TORONTO (Reuters) – Canadian housing starts dropped 22% in August compared with the previous month as groundbreaking decreased on multiple-unit urban homes, data from the national housing agency showed on Tuesday.
The seasonally adjusted annualized rate of housing starts fell to 217,405 units from a revised 279,804 units in July, the Canadian Mortgage and Housing Corporation said. Economists had expected starts to fall to 252,500 units.
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