The Canada Mortgage and Housing Corporation (CMHC) announced Tuesday that Canadian housing starts totaled 170,400 units in January compared to 169,000 units in December 2010.
"Housing starts moved slightly higher in January because of an increase in rural starts," said Bob Dugan, Chief Economist at CMHC's Market Analysis Centre. "Single-detached and multiple starts showed a moderate decline."
The seasonally adjusted annual rate of urban starts decreased by 1.7 per cent to 146,900 units in January, while urban multiple starts moderated by 1.5 percent to 82,900 units, and single urban starts moved lower by 2 percent to 64,000 units last month.