Canadian housing starts fall 10% in Jan -CMHC

A home for sale on Emerald Street in Hamilton Ontario, Canada May 6, 2022. REUTERS/Carlos Osorio/File Photo

OTTAWA (Reuters) – Canadian housing starts fell 10% in January compared with the previous month as groundbreaking decreased on multiple-unit urban homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell to 223,589 units from a revised 248,968 units in December, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to rise to 235,000.

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