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The Canada Mortgage and Housing Corporation (CMHC) released housing starts data on Monday. Housing starts in Canada increased to a seasonally adjusted annualized rate of 195,620 units in November from a revised reading of 183,659 units in October.
Analysts had expected an increase to 201,000 units.
The CMHC's Chief Economist Bob Dugan that new home building is "concentrated in multiple starts, particularly in Quebec, British Columbia and Ontario".
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