Housing starts down for January from CBC

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Canadian housing starts fell to 153,500 units in January from 172,200 in December, with the Prairies experiencing the greatest decline, the Canada Mortgage and Housing Corporation said Monday.

"To a certain extent, the decline in housing starts coincides with recent developments in the existing home market," chief economist Bob Dugan said in a release.

) c: s6 a6 h/ _( Y$ ]& {4 u"Reduced sales and increased listings in the existing home market have led to reduced spillover demand in the new home market."

' F9 \' f  r2 p; g! MCity condo starts decreased 12.2 per cent to 76,700 units, while single-family home starts fell 20.2 per cent to 50,000 units in January.
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The Prairies endured the greatest drop at 30.3 per cent, followed closely by British Columbia at 29.1 per cent and Ontario at 14.6 per cent. Quebec's housing starts saw the smallest decline at 1.4 per cent.

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