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National housing starts increase

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by Daily Commercial News

Canadian housing starts remain strong with an increase in March, says the Canada Mortgage and Housing Corporation. The seasonally adjusted annual rate of housing starts was 215,600 units in March, up from 205,300 units in February.

OTTAWA

Canadian housing starts remain strong with an increase in March, says the Canada Mortgage and Housing Corporation. The seasonally adjusted annual rate of housing starts was 215,600 units in March, up from 205,300 units in February.

The March growth was largely due to an increase in multiple starts, particularly in Ontario and the Prairies, though it was partly offset by a decrease in multiple starts in British Columbia and Quebec.

Single-detached starts decreased marginally across the country. Urban single starts moderated by 2.4 per cent in March to 68,000 units.

Meanwhile, multiple urban starts were up by 8.3 per cent to 124,100 units. Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in March.

DCN NEWS SERVICES

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