Canadian housing starts fell 6.6 percent to a seasonally adjusted annual rate of 200,600 in September from 214,800 in August, Canada Mortgage and Housing Corp. said.
Starts of urban single dwellings rose 0.9 percent to a rate of 104,500 units in September from 103,600 in August. Starts of urban multiple units fell 17.6 percent to a rate of 70,900 in September from 86,000 in August.
Ontario urban starts rose to a rate of 78,300 in September from a rate of 73,500 in August.
Housing starts in rural areas were estimated at an annual rate of 25,200 in September, unchanged from August.
Michel Laurence, chief economist at CMHC’s Market Analysis Center, said overall, the market remains in good shape “in spite of the August to September decline in multiple starts, which reflects the typical volatility in this segment of the housing market.”