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Canadian housing starts slower in September

The annual pace of Canadian housing starts in September slowed compared with August.

Canada Mortgage and Housing Corp. says the seasonally adjusted annual rate came in at 188,683 units in September, down from 198,843 in August.

Thomson Reuters Eikon says economists had expected an annual rate of 210,000 for September.

The annual rate last month slowed as the pace of urban starts fell by 5.9 per cent to 175,653 units.

Starts of urban multiple-unit projects such as condos, apartments and townhouses fell 8.9 per cent to 122,656 units, while single-detached urban starts increased by 2.0 per cent to 52,997.

Rural starts were estimated at a seasonally adjusted annual rate of 13,030 units, while the six-month moving average of the monthly seasonally adjusted annual rates was 207,768 for September, down from 213,966 in August.

OTTAWA THE CANADIAN PRESS