Canada Housing Starts Rise First Time in Four Months

Canada Housing Starts Rise 11.6% October to November, Exceeding All Forecasts. First Increase in Four Months

Canadian housing starts rose 11.6% from October to November to an annual pace of 187,200. It is the first advance in four months, according to Canada Mortgage and Housing Corp. The reading exceeded all 21 estimates in a Bloomberg News survey that had a median estimate of 173,000 units. Canadian banks have been projecting housing starts to drop in 2011 from a 2010 total of 186,200 after temporary stimulus measures for homeowners has lapsed. (More at . . . )