Canadian housing starts declined 19.8% in April to a seasonally adjusted annual rate of 268,631, according to the Canadian Mortgage and Housing Corporation.
Starts were down from a record-high 334,759 units in March.
Urban starts decreased 16.9% in April, and multiple urban starts decreased 22.8%.
CMHC Chief Economist Bob Dugan stated the overall trend-level of housing start activity “remains elevated as a result of strong activity so far this year.”
The full CMHC report can be found here.
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