OTTAWA (Reuters) – Canadian housing starts rose 3.2% in May compared with the previous month as multiple urban starts jumped, offsetting a drop in single-detached starts, data from the Canadian Mortgage and Housing Corporation showed on Tuesday.
The seasonally adjusted annualized rate of housing starts rose to 275,916 units from a revised 267,449 units in April, Canada’s national housing agency said. Analysts had expected 270,000 unit starts in May.
(Reporting by Julie Gordon in Ottawa)