The decline came as the annual pace of urban starts fell 15.1% during the month
Average selling price up 12%
Foreign buyers accounted for 1.9% of sales in the three months ended Nov. 17, down from 3.2% the previous three months
Lower sales forecast will cost economy $1 billion in lost economic activity, association says
The six-month trend has reached its highest level in years
In Vancouver, the annual pace of housing starts nearly doubled
CMHC’s quarterly housing market assessment highlights markets in Toronto, Hamilton, Vancouver, Victoria and Saskatoon
A drop in multi-unit urban starts more than offset an increase in single-detached urban starts
Toronto hits poorest level ever
Other “bubble risk” cities include Stockholm, Munich, Sydney, London, Hong Kong and Amsterdam