Housing starts declined 17% in October, CMHC says

• The Canada Mortgage and Housing Corporation has announced a 17% decrease in the annualized rate of housing starts for October when compared to September. This decline suggests a notable slowdown in the construction industry, which may impact housing availability and prices.
• This development is significant as it may indicate a cooling housing market, potentially affecting homebuyers, investors, and the overall economy. A decrease in housing starts could lead to reduced construction jobs and influence housing supply dynamics in the coming months.

— via World Pulse Now AI Editorial System