TORONTO - The Canada Mortgage and Housing Corp. said the annual pace of housing starts slowed in January, dropping less than was expected for the start of the year. Article Continued BelowCMHC’s data showed the annual pace of urban starts slowed 2.1 per cent in January to 190,912 units as single-detached urban starts fell 10.4 per cent to 44,559 units. In Vancouver, where the housing market has long been considered among the country’s most heated, CMHC said housing starts were holding steady after trending lower in the second half of 2018. In Toronto, housing starts saw little change, although increasing borrowing costs meant pre-construction sales of new homes remain low. “Housing starts typically follow resales with a lag, though.”

Source: thestar February 08, 2019 13:30 UTC