Canada’s housing market cools in April

May 24, 2008

A Canwest News Service report by John Morrissy,Published: Thursday, May 08, 2008

OTTAWA – Canada’s housing market showed further signs of slipping as the pace of new-home construction eased last month, dropping by a greater-than-expected 12 per cent to a seasonally adjusted rate of 213,900, the federal housing agency reported Thursday.

“Housing starts in April moderated from the high levels posted in February and March,” said Canada Mortgage and Housing Corp. chief economist Bob Dugan.

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