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- Canada’s housing starts up 22.6 percent m-o-m in April
Canada’s housing starts up 22.6 percent m-o-m in April
The
Canada Mortgage and Housing Corp. (CMHC) reported on Wednesday the seasonally
adjusted annual rate of housing starts was at 235,460 units in April, up 22.6
percent from a downwardly revised 191,981 units in February (originally
192,527units).
Economists
had forecast an annual pace of 196,400 for April.
According
to the report, urban starts surged by 24.0 percent m-o-m last month to 220,387
units, as multiple urban starts climbed by 29.6 percent m-o-m to 175,732 units,
while single-detached urban starts rose by 6.0 percent m-o-m, to 44,655 units.
At the same time, rural starts were estimated at a seasonally adjusted annual
rate of 15,073 units, up 5.5 percent m-o-m.
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