Housing starts down for third consecutive month

The Canada Mortgage and Housing Corporation (CMHC) reports that housing starts decreased in November, the third month in a row that they have fallen.

CMHC said there were 17,646 starts last month, which translates into 196,125 units over the past year. That was down from 203,487 year-over-year for October.

The recent national decrease in housing starts has been caused, the agency said, by a decline in single-detached and multiple-unit housing construction in Ontario and British Columbia.