The seasonally adjusted annual rate of housing north of the border was 189,1000 units in May, down from a revised 201,800 units in April, according to Canada Mortgage and Housing Corp. Chief economist Bob Dugan said starts dropped in both the single-family and multifamily markets during the month and the current start rate is considered in line with projections that the start rate for this year will be 182,000 units. The seasonally adjusted annual rate of urban starts fell 9.5% during the month to 165,200 units during May with multifamily starts that category down 5.6% at 92,800 units and single-family start in that category down 14.1% at 72,400 units.
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