August housing starts on the decline

OTTAWA — Housing starts declined to a seasonally adjusted annual rate of 200,986 units in August, according to Canada Mortgage and Housing Corp., down from 205,751 units in July. The SAAR of urban starts decreased by 2.5% in August to 184,925 units. Multiple urban starts decreased by 2.4% to 132,700 units in August while single-detached urban starts decreased by 2.6% to 52,225 units. Rural starts were estimated at a seasonally adjusted annual rate of 16,061 units.