CMHC: annual housing starts slowed down slightly in November

The latest data from Canada Mortgage and Housing Corp. shows that the annual pace of housing starts was down by 0.2% in November on a monthly basis.

According to CMHC, the seasonally adjusted annual rate of housing starts last month was 264,159 units, following 264,581 reported in October.

The annual pace of urban starts remained unchanged at 242,644 units as multi-unit urban starts were up by 2% reaching 190,415, but single-detached urban starts saw a 7% drop to 52,229.

The annual pace of starts in Toronto and Vancouver went up, while Montreal reported a decline.

The report says rural starts showed a seasonally adjusted annual rate of 21,515.

At the same time, the six-month average of the monthly seasonally adjusted annual rates was 274,361 last month, marking a decrease from the 277,044 seen in October.