%{{tag.tag}} {{articledata.title}} {{moment(articledata.cdate)}} @{{articledata.company.replace(" ","")}} comment The %CanadianHousingMarket pared back recent gains in January, down 10 percent from December, while still pointing to the strongest January in 30 years. January’s drop was in stark contrast to December’s unexpected rally, as housing starts pulled back for the month, at just 223,000 annualized units, and pulled the six-month moving average lower to 244,000 units. Declines in other major metropolitan areas offset an uptick in construction in Canada’s largest city, Toronto, which experienced a 49 percent surge from the same period last year. Gains in Toronto were mainly in apartments, condos and rowhouses. Steep falls in Canada’s second and third-largest cities drove the declines. In Vancouver, housing starts fell by 54 percent, while Montreal experienced a 28 percent drop. Overall, urban starts were down in seven out of 10 provinces. However, January housing starts climbed 13 percent from the same year-ago month and homebuilding levels remain elevated relative to historical norms.