Housing starts tumble in May

OTTAWA — Housing starts fell to their lowest level in a year in May, with a drop of 9.8% seasonally adjusted from the previous month, according to CMHC. Multi-unit starts dropped 15% to 124,957 units, while the single-detached segment moved up slightly, by 2%, to 70,655.The biggest drop was in Ontario, down 22%, while British Columbia was up 3%, most of that in the Vancouver area.