Housing starts up in March
April 10, 2013 By Canadian Garden Centre & Nursery
Apr. 10, 2013, Ottawa — Housing starts in Canada were trending at 189,742 units in March, according to Canada Mortgage and Housing Corporation (CMHC).
The standalone monthly seasonally adjusted annual rates (SAAR) was 184,028 units in March, up slightly from 183,207 in February. The SAAR of urban starts decreased by 2.7 per cent in March to 157,217 units, led by a 6.6 per cent decline in single urban starts to 60,558 units.
Multiple urban starts remained relatively unchanged at 96,659 units in March. Rural starts were estimated at a seasonally adjusted annual rate of 26,811 units.
“As expected, the trend in total housing starts continued to moderate in March. Builders are adjusting to lower housing demand and as a result, completed and unoccupied units per capita remain relatively close to their historical average,” said Mathieu Laberge, deputy chief economist at CMHC.
The trend is a six-month moving average of the monthly seasonally adjusted annual rates of housing starts.
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