TORONTO (Reuters) – Canadian housing starts fell 11% in October, pulling back from the highest level in 2022 the month before, as groundbreaking decreased on multiple unit and single-family detached homes, data from the national housing agency showed on Wednesday.
The seasonally adjusted annualized rate of housing starts fell to 267,055 units from a revised 298,811 units in September, Canadian Mortgage and Housing Corporation (CMHC) data showed. Economists had expected starts to fall to 270,000.
(Reporting by Fergal Smith, Editing by Louise Heavens)
