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Canadian Housing Starts Down in May

Canadian housing starts in May totaled 216,362 units, down 4% from April. The standalone monthly seasonally adjusted annual rate (SAAR) of urban starts fell 11.1% from the previous month to 178,201. Multiple urban starts dropped 16.4% from April to 119,811. Single-family totals rose 2% in May to 58,390.  See CMHC

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