- Prior was 241.7K (revised to 241.6K)
- Multi-unit starts +21% vs -12% prior
- Single-detached +2% vs -2% prior
This is a strong reading as the inventory of pre-sold homes and condos continues to be worked through. The problem is that the front of the pipeline has completely dried up.
The CMHC cited strong gains in Calgary and Ottawa driving the gain.
This article was written by Adam Button at www.forexlive.com.
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