Canadian Starts Inch Up

The seasonally adjusted annual rate of Canadian housing starts inched up to 227,900 in November from 227,600 in October and from 225,000 a year earlier, according to Canada Mortgage and Housing Corp., Ottawa."The strength in November is attributable to the good performance of single-family home starts, which reached their highest level since March of 2006," said Bob Dugan, chief economist at CMHC. The seasonally adjusted annual rate of Canadian housing starts last March was 252,300. The CMHC can be found online at http://www.cmhc.ca.

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