Canadian housing starts fell 23% in May as groundbreaking decreased

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Canadian housing starts fell 23% in May as groundbreaking decreased
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The seasonally adjusted annualized rate of housing starts fell to 202,494 units from a marginally revised 261,357 units in April, the CMHC said

Canadian housing starts fell 23 per cent in May compared with the previous month as groundbreaking decreased on multiple unit and single-family detached urban homes, data from the national housing agency showed on Thursday.

The seasonally adjusted annualized rate of housing starts fell to 202,494 units from a marginally revised 261,357 units in April, the Canadian Mortgage and Housing Corporation said.

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