Housing starts decline in October

The seasonally adjusted annual rate of housing starts in Canada was 236,554 units in October, according to the Canada Mortgage and Housing Corp. That was down 5.3 percent from 249,922 units in September. The SAAR of urban starts declined by 3.7 percent to 214,797 units. Single-detached urban starts increased by one percent to 58,016 units. Rural starts were estimated at a SAAR of 21,757 units.