Housing starts decline through March

by mdoyle | May 9, 2014 9:58 am

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The Canada Mortgage and Housing Corporation (CMHC) has reported that March saw the first decrease in housing starts in the past six months.

Trending at 191,126 starts in February, the country’s numbers fell to 184,478 in March.

“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 CMHC’s Mathieu Laberge. “Lower starts activity over the remainder of the year compared to 2013 is anticipated as builders continue to adjust activity to manage inventory levels.”

The seasonally adjusted annual rate (SAAR) of urban starts was down 18.8 per cent in March to 142,502 units. Multiple urban starts decreased by 25.5 per cent to 87,372 while single-detached urban starts were down to 55,130 units or 5.4 per cent. Atlantic Canada, Ontario, and Québec all saw decreases while British Columbia and the Prairies posted increases.

Source URL: https://www.constructioncanada.net/housing-starts-decline-through-march/

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