Housing starts decline in August

The seasonally adjusted annual rate of housing starts was 260,239 units in August, according to the Canada Mortgage and Housing Corp. That was a 3.9 percent drop from 270,744 units in July. The SAAR of urban starts decreased by 4.7 percent for the month to 235,782 units. Single-detached urban starts fell by two percent to 62,662 units. Rural starts were estimated at a rate of 24,457 units.