Housing starts drop in September

OTTAWA — The seasonally adjusted rate of housing starts in Canada was 188,683 units in September, Canada Mortgage and Housing Corp. reports, down from 198,843 units in August. The SAAR of urban starts decreased by 5.9% in September to 175,653 units. Multiple urban starts decreased by 8.9% to 122,656 units in September while single-detached urban starts increased by 2.0% to 52,997 units. Rural starts were estimated at a rate of 13,030 units.