Canada's housing starts slow in November but no signs of the Real Estate Market tumbling down.

New home building across Canada dropped by a sharp 13 per cent in November as the volatile sector that represents condos and apartments showed declines, but there was still no sign the red-hot Canadian housing market is poised for a tumble, analysts said.

It was a much larger decrease than economists had expected, as construction of multiple units fell after months of increases driven by a booming condo market in large cities like Toronto, and Vancouver.

Meanwhile, Statistics Canada reported that its New Housing Price Index rose 0.2 per cent in October after a similar increase in September.

The Bank of Canada is expected to leave its overnight lending rate at a historically low one per cent until next year in order to encourage Canadians to borrow even as the global economy slows.

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Eniz Aziz

Eniz Aziz

CENTURY 21 In Town Realty
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