Canada December Housing Starts Fall 5% to 248,625 Units

By Paul Vieira

OTTAWA--Canadian housing starts fell in December for a third straight month.

Housing starts in December across Canada reached a seasonally adjusted annualized rate of 248,625 units, a 5% decline from November's revised level of 263,022 units, Canada Mortgage and Housing Corp. said Tuesday. Market expectations weren't immediately available.

The trend measure--a six-month moving average of the monthly seasonally adjusted annual rate of housing starts--dropped 1.4% to 269,930 units in December, CMHC said.

Urban starts of multi-family units, such as condominiums and row houses, fell 4% to 182,850 units, while starts for single-detached units dropped 11% to 44,858 units.

Write to Paul Vieira at [e-mail]

(END) Dow Jones Newswires

01-17-23 0901ET