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CMHC reports pace of housing starts slowed in March compared with February

The Canadian Press
CMHC reports pace of housing starts slowed in March compared with February

OTTAWA — Canada Mortgage and Housing Corp. (CMHC) says the annual pace of housing starts slowed in March compared with February.

The agency says the seasonally adjusted annual rate slowed to 225,213 units last month compared with 231,026 in February.

Multiple urban starts, which includes buildings such as apartments, townhouses and condominiums, fell 7.3 per cent to 144,578 units in March.

Single-detached urban starts increased 9.5 per cent to 63,659.

Meanwhile, rural starts were estimated at a seasonally adjusted annual rate of 16,976 units.

The six-month moving average of the monthly seasonally adjusted annual rates edged up to 226,842 units in March compared with 225,804 in February.

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