Canadian housing starts fall 11% in March -CMHC

TORONTO (Reuters) – Canadian housing starts fell more than expected in March 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 Wednesday.

The seasonally adjusted annualized rate of housing starts fell 11% to 213,865 units from a revised 240,927 units in February, the Canadian Mortgage and Housing Corporation (CMHC) said. Economists had expected starts to fall to 237,800.

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