Wednesday, January 10, 2007

December Housing Starts Weaker Than Expected

Housing starts in Canada fell in December to a seasonally adjusted annual pace of 211,500.

The consensus estimate had been for 225,000, while the rate in November was 229,300 units.

Despite the weakness, the month capped a year when housing starts were the highest level in nearly two decades.

New home starts are estimated at 227,400 in 2006.

Housing starts are expected to remain strong in 2007, but are forecast to decrease to 210,900 units.

After two strong months in October and November, the volatile multiples segment fell in December and single-detached starts continued to trend downward, reaching their lowest level of the year.


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