Housing starts edge up in October

The annualized pace of housing starts in Canada rose by 1.0 percent to 274,681 units in October, according to the Canada Mortgage and Housing Corp., from 270,669 units the previous month. The rate of urban starts increased 2.0 percent, with 257,357 units recorded. Total starts were down 43 percent in Montreal and 24 percent in Toronto, while Vancouver recorded an increase of 35 percent, driven by the multi-unit segment. The rate of rural starts was estimated at 17,324 units.