CMHC reports annual pace of housing starts slowed in December to 216,980

OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in December.

The national housing agency says the seasonally adjusted annual rate for the last month of 2017 came in at 216,980 units, down from 251,675 units in November.

The decline came as the annual pace of urban starts fell 15.1 per cent in December to 198,132 units.

The pace of multi-unit urban starts slowed 22 per cent to 135,176, while the rate of single-detached urban starts increased by 4.7 per cent to 62,956 units.

Rural starts were estimated at a seasonally adjusted annual rate of 18,848 units.

The six-month moving average for December was 226,777 compared with 226,178 in November.

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