Canadian Housing Starts Up Slightly In March

13612_canada Canadian Housing Starts Up Slightly In March Canadian housing starts showed a mixed picture in March, according to new data from the Canada Mortgage and Housing Corp. (CMHC).

The stand-alone monthly seasonally adjusted annual rate (SAAR) was 184,028 units in March, up slightly from 183,207 in February. The SAAR of urban starts decreased by 2.7% in March to 157,217 units, led by a 6.6% cent decline in single urban starts to 60,558 units. Multiple urban starts remained relatively unchanged at 96,659 units in March, while rural starts were estimated at a SAAR of 26,811 units.

March's SAARs of urban starts decreased in Ontario (-15.7%) and Quebec (-13.5%). Urban starts increased in Atlantic Canada (27.1%), the Prairies (13.8%) and British Columbia (13.1%).

‘Builders are adjusting to lower housing demand and, as a result, completed and unoccupied units per capita remain relatively close to their historical average,’ says Mathieu Laberge, deputy chief economist at the CMHC.


Please enter your comment!
Please enter your name here