New home construction in the Inspiration Community project by developers Tribute Communities in Richmond Hill, Ont., is seen in this file photo.Moe Doiron/The Globe and Mail
Canada Mortgage and Housing Corp., says the pace of housing starts slowed in October.
The agency says there were 17,507 actual starts last month.
That translates into a seasonally adjusted annual rate of 204,107 starts, down from an annual rate of 223,995 recorded in September.
The agency says there were drops in both single– and multiple-unit starts in urban areas last month.
Declines were recorded in all regions, with Quebec reporting the biggest drop at 16.9 per cent.