Canada Housing Starts Drop 4.4% in September

By Paul Vieira

OTTAWA--Canadian housing starts fell in September, as construction activity pulled back in urban areas although remained high on a historical basis.

Housing starts for September came in at a seasonally adjusted annualized rate of 251,151 units, a 4.4% decrease from 270,744 units in August, Canada Mortgage and Housing Corp. said Monday. Market expectations were for starts to come in at 256,500 in September, according to economists at Desjardins Securities.

The trend measure for September, or a six-month moving average of the monthly seasonally adjusted annual rate of housing starts, declined to 271,068 units, from roughly 284,757 units in the previous month.

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(END) Dow Jones Newswires

10-18-21 0844ET