Canadian housing starts increased 8% month-over-month in February to a seasonally adjusted annual rate of 247,256 units, the Canada Mortgage and Housing Corporation reported.
Total urban starts increased 10%, and multi-unit urban starts increased 13%. Single-detached urban starts increased 2%.
“On a trend and monthly SAAR basis, the level of housing starts activity in Canada remains historically high; however, the six-month trend in housing starts declined slightly from January to February,” stated Bob Dugan, CMHC's chief economist.
The full report can be found here.
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