Housing starts drop in September

The seasonally adjusted annual rate of housing starts in Canada was 251,151 units in September, the Canada Mortgage and Housing Corp. reported. That was a decrease of 4.4 percent from 262,754 units in August. The SAAR of urban starts decreased by 4.5 percent in September to 223,055 units. Single-detached urban starts decreased by 5.9 percent to 57,194 units. Rural starts were estimated at a SAAR of 28,096 units.