OTTAWA, ON — Canadian housing starts slid 3.5 percent to 184,476 units in March compared to 191,126 in February, according to Canada Mortgage and Housing Corporation (CMHC).
This trend reflects a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts collected by the Canada Mortgage and Housing Corporation (CMHC).
“In March, the trend in housing starts declined below 190,000 units for the first time in six months, reflecting a decrease in multiple unit starts," said Mathieu Laberge, deputy chief economist of CMHC. "Lower starts activity over the remainder of the year compared to 2013 is anticipated as builders continue to adjust activity in order to manage inventory levels.”
CMHC reported that the seasonally adjusted annual rate of urban starts in March increased in British Columbia and the Prairies, but decreased in Atlantic Canada, Ontario and Quebec.
Have something to say? Share your thoughts with us in the comments below.