Housing starts decline in August

Housing starts in Canada were at an annualized rate of 267,443 units in August, the Canada Mortgage and Housing Corp. reports, down three percent from July. The rate of total urban starts also fell three percent to 246,771 units. Single-detached urban starts edged up by one percent to 59,169 units. Rural starts were estimated at an annualized pace of 20,672 units.