Canada Mortgage and Housing Corporation says housing starts slowed

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Rate of housing starts droops 3% from month before

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OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in June slowed compared with May.

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The national housing agency says the seasonally adjusted annual rate of housing starts came in at 273,841 units for June, down three per cent from 282,188 in May.

The drop came as the annual rate of urban starts fell three per cent to 257,438 units in June.

The annual pace of urban starts of apartments, condos and other types of multi-unit housing projects dropped two per cent to 197,022 units, while the rate of single-detached urban starts decreased four per cent to 60,416 units.