Housing starts drop in December

OTTAWA — The standalone monthly rate of housing starts across Canada was 216,980 units (seasonally adjusted) in December, down from 251,675 units in November. According to the data, released by the Canada Mortgage & Housing Corp., the SAAR of urban starts decreased by 15.1% in December to 198,132 units. Multiple urban starts decreased by 22% to 135,176 units in December. Single-detached urban starts increased by 4.7% to 62,956 units. Rural starts were estimated at a SAAR of 18,848 units.