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Housing Starts in Canada Declined Slightly in March: CMHC

There was a slight reduction in the number of newly-started housing construction projects in Canada last month, the Canada Mortgage and Housing Corporation (CMHC) reported.

Using seasonally adjusted annual rates (SAAR) to measure housing starts, the Crown Corporation reports the total number declined to 252,497 units from 253,296 in February. However, that’s still historically high, remaining above 200,000 since June 2020. The slight month-over-month decrease occurred in Canada’s urban centres where, CMHC reported, the number of multi-unit dwellings fell to such a degree that they were partially countervailed by the notable increase of single-family detached housing starts.

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