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Canada housing starts fall 5.3% in October - CMHC

Reuters
FILE PHOTO: A realtor's sign stands outside a house for sale in Toronto

OTTAWA (Reuters) - Canadian housing starts fell 5.3% in October compared with the previous month as a decrease in multiple urban groundbreakings outweighed a slight increase in single-detached urban starts, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts declined to 236,554 units from a revised 249,922 units in September, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected 255,000 starts.

(Reporting by Julie Gordon in Ottawa; Editing by Andrew Heavens)