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Canadian housing starts fall 1% in August -CMHC By Reuters

Canadian housing starts fall 1% in August -CMHC

© Reuters. FILE PHOTO: A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo

TORONTO (Reuters) – Canadian housing starts fell 1% in August compared with the previous month as groundbreaking decreased on multiple-unit projects, data from the national housing agency showed on Monday.

The seasonally adjusted annualized rate of housing starts fell to 252,787 units from a revised 255,232 units in July, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 247,100.

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