The pace of housing starts in Canada fell by 22 per cent in November, the Canada Mortgage and Housing Corp. said Friday.
The agency says the monthly seasonally adjusted annual rate of housing starts in November came in at 212,624 units, down from 272,264 in October.
A housing start is defined as the beginning of construction work on the building where the dwelling unit will be located, according to CMHC.
Year-over-year trend, says economist
The decline in housing starts is part of a larger downward trend that has been witnessed over the last year, according to economist Mike Moffatt.
“If we look from January to November, so the last
