Canadian Housing Starts Tumble About 20% in September: CMHC | Investing News

TORONTO (Reuters) – Canadian housing starts fell by more than expected in September compared with the previous month as groundbreaking tumbled on multiple unit urban homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell by 20.1% to 208,980 units from a revised 261,547 units in August, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 240,000.

(Reporting by Fergal Smith)

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