OTTAWA, ON -- The Canadian new housing market is on pace to reach 188,800 units based on the seasonally adjusted annual rate recorded in in March, according to Canada Mortgage and Housing Corporation (CMHC).
This represents a 2.8% increase from the 183,700 units projected in February 2011.
âHousing starts moved higher in March mostly because of increases in rural starts,â said Bob Dugan, chief economist of CMHCâs Market Analysis Centre. âUrban starts saw little change as the increase in Ontarioâs multiples segment was offset by a decrease in British Columbiaâs multiples and a decrease in single housing starts in the Prairies.â
Posted by Rich Christianson
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