Housing starts down for third consecutive month
Ontario and B.C. showing the largest drops
December 11, 2012 by Steve Payne
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.