Housing starts fall in May

OTTAWA — The standalone monthly rate of housing starts (seasonally adjusted) for all areas in Canada was 194,663 units in May, down from 213,498 units in April, according to data from the Canada Mortgage and Housing Corp. The SAAR of urban starts decreased by 10.2% in May to 178,518 units. Multiple urban starts decreased by 10.8% to 118,694 units in May and single-detached urban starts decreased by 8.9%, to 59,824 units. Rural starts were estimated at a seasonally adjusted annual rate of 16,145 units.