CMHC reports annual pace of housing starts in Canada slowed in March

Canada Mortgage and Housing Corp. says the annual tempo of housing begins in March fell 11 per cent in contrast with February.

The nationwide housing company says the seasonally adjusted annual fee of housing begins in March got here in at 213,865 items, down from 240,927 in February.

The drop got here because the annual fee of city begins within the month fell 12 per cent with 192,545 items.

The annual fee of multi-unit city begins fell 11 per cent to 151,769 for March, whereas the tempo of single-detached city begins fell 16 per cent to 40,776.

The annual fee of rural begins was estimated at 21,320 items for the month.

The six-month shifting common of the month-to-month seasonally adjusted annual fee was 240,669 in March, down six per cent from 254,658 in February.

This report by The Canadian Press was first printed April 19, 2023.