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- Canada’s housing starts decrease less than forecast in February
Canada’s housing starts decrease less than forecast in February
The Canada Mortgage and Housing Corp. (CMHC) reported on Monday the seasonally adjusted annual rate of housing starts was at 210,069 units in February, down 1.9 percent from an upwardly revised 214,031 units in January (originally 213,224 units).
Economists had forecast an annual pace of 205,000 for February.
According to the report, urban starts declined 1.9 percent m-o-m last month to 199,304 units, as multiple urban starts dropped by 6.1 percent m-o-m to 146,072 units, while single-detached urban starts surged by 11.9 percent m-o-m to 53,232 units. At the same time, rural starts were estimated at a seasonally adjusted annual rate of 10,765 units.
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