The trend measure of housing starts in Canada was 198,053 units in December compared to 200,105 in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"December saw multi-unit construction slow for the third consecutive month in Canada, leading housing starts to trend down," said Bob Dugan, CMHC Chief Economist. "However, 2016 still counted more home starts than 2015. Increased demand for single-detached homes more than offset the decline we're seeing in multi-unit construction - a decline that's in response to efforts to manage current inventories."