Menu

Topics

Connect

Comments

Want to discuss? Please read our Commenting Policy first.

Housing starts in Canada fall 7% in March from previous month, CMHC says

RELATED: Canada's housing market starting to turn a corner, CREA data shows – Feb 14, 2024

Canada Mortgage and Housing Corp. says the annual pace of housing starts in March declined seven per cent compared with February.

Story continues below advertisement

The national housing agency says the seasonally adjusted annual rate of housing starts amounted to 242,195 units in March compared with 260,047 in February.

When looking at year-over-year figures, March’s actual housing starts were 10 per cent higher in Toronto and 15 per cent higher in Vancouver because of an increase in multi-unit starts.

Montreal’s actual starts dipped one per cent, dragged down by lower multi-unit starts.

Story continues below advertisement

The annual rate of rural starts was estimated at 21,452 units.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts in March was 243,957, down 1.6 per cent from 247,971 in February.

Advertisement

You are viewing an Accelerated Mobile Webpage.

View Original Article