Business News

Housing starts dropped in Canada

Published: Feb. 8, 2013 at 11:49 AM

OTTAWA, Feb. 8 (UPI) -- Housing product starts dropped to less than under 10,000 in Canada in January, the Canada Mortgage and Housing Corp. said Friday.

The Canadian Broadcasting Corp. reported housing starts for the month came to 9,904 actual projects, down from 13,038 in January 2012.

The housing agency said the seasonally adjusted annual rates of housing starts for January was 160,577, down from 197,118 in the previous month.

Building project starts in urban areas fell 22.3 percent in January to a seasonally adjusted annual rate of 138,134 with single family projects down 11.2 percent and multiple unit construction starts down 28.9 percent.

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