Canadian housing starts tumble

Canadian housing starts tumble
Falling 21%, missing estimates

Reuters
Thursday, March 08, 2007
CREDIT: Getty
The number of starts in February missed the consensus expectations of analysts who had called for 218,000 starts.TORONTO -- Canadian housing starts fell 21% in February to a seasonally adjusted annualized rate of 196,200 units from a revised 248,500 units in January, Canada Mortgage and Housing Corp. said on Thursday.
The number of starts in February missed the consensus expectations of analysts who had called for 218,000 starts.
Urban multiple housing starts, which include condominium and apartments, fell 33% to an annual rate of 82,800 units from 123,500 in February, while urban single-family dwellings declined 12.6% to 80,400 units from 92,000.
Rural starts in February were estimated at an annual rate of 33,000 units, unchanged from January.