Canadian housing starts fall 11% in October -CMHC

FILE PHOTO: A for sale sign is displayed outside a home in Toronto, Ontario in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File photo

TORONTO (Reuters) — Canadian housing starts fell 11% in October, pulling back from the highest level in 2022 the month before, as groundbreaking decreased on multiple unit and single-family detached homes, data from the national housing agency showed on Wednesday.

The seasonally adjusted annualized rate of housing starts fell to 267,055 units from a revised 298,811 units in September, Canadian Mortgage and Housing Corporation (CMHC) data showed. Economists had expected starts to fall to 270,000.

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