Canadian Housing Starts Up In March

Posted by Orb Staff on April 11, 2012 No Comments
Categories : Residential Mortgage

11296_canada Canadian Housing Starts Up In March The seasonally adjusted annual rate of Canadian housing starts was 215,600 units in March, according to Canada Mortgage and Housing Corp. (CMHC). This is up from 205,300 units in February.

The seasonally adjusted annual rate of urban starts increased by 4.2% to 192,100 units. Urban single starts moderated by 2.4% to 68,000 units, while multiple urban starts were up by 8.3% to 124,100 units.

March's seasonally adjusted annual rate of urban starts increased by 30.3% in Ontario, by 6.4% in the Prairies, and by 2.7% in Atlantic Canada. In each of these regions, the CMHC attributed the increase to multiple starts, but added that the role of increased multiple starts was most pronounced in Ontario. However, urban starts decreased by 27.7% in British Columbia and 16.3% in Quebec.

Rural starts were estimated at a seasonally adjusted annual rate of 23,500 units in March.

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