The Canadian housing market is starting to speed up this spring. (File photo)

Pace of Canadian housing starts up in March on seasonally adjusted basis: CMHC

Condo, apartment and townhouse starts increase by 18.6% in March

Canada Mortgage and Housing Corp. says the pace of housing starts picked up in March.

The national housing agency says the seasonally adjusted annual rate of housing starts climbed to 192,527 units in March, compared with 166,290 units in February.

Economists on average had expected an annual pace of 196,500, according to Thomson Reuters Eikon.

The reading came as starts of urban multiple-unit projects such as condominiums, apartments and townhouses increased 18.6 per cent to 135,894 units in March. The rate of single-detached urban starts rose 12.1 per cent to 42,139 units.

Rural starts were estimated at a seasonally adjusted annual rate of 14,494 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 202,279 in March compared with 202,039 in February.

READ MORE: Trudeau sells housing plan in visit to hot real estate market in B.C.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Mountain biker admitted to hospital after being sent home

Released in Maple Ridge to go home with three fractured vertebrae

Maple Ridge secondary students discover the art of children’s lit

Twenty students will be reading their books to Laity View elementary students

Maple Ridge’s public works manager stepping down

Frank Quinn retires in May, saw city’s population double

Maple Ridge public hearing blasts housing plan near river

People spoke for three hours against 26 homes

Pitt council pay increases partly in reaction to federal tax changes

Total cost of implementing the recommendations is an increase of $90,110 for council remuneration.

Paddling and pancakes, cleaning Katzie Slough shore

The fourth biannual canoe tour of the Katzie Slough took place on Sunday

Notre Dame rector: “Computer glitch” possible fire culprit

The fire burned through the lattice of oak beams supporting the monument’s vaulted stone ceiling

Langley MP describes most recent diagnosis as a ‘miracle’

Tory Member of Parliament Mark Warawa doesn’t have pancreatic cancer, but operable colon cancer

Man driving wrong way on Highway 17 ‘seriously’ injured after crash: Surrey RCMP

Police say the driver hit a transport truck, then another car after merging from the off-ramp onto highway

Should B.C. lower speed limits on side roads to 30 km/h?

Vancouver city councillor wants to decrease speed limits along neighbourhood side roads

Lawsuit eyed over union-only raise for B.C. community care workers

‘Low-wage redress’ leaves 17,000 employees out, employers say

Landlord of alleged Okanagan shooter recounts deadly day

Tony Friesen was working in one of the units of his Penticton building when he heard shots

Foreign national arrested in connection to thefts at YVR

A woman, 60, is being held in police custody as Richmond RCMP investigate

Police pursue pesky porker on Vancouver Island

‘This was allegedly not the pig’s first escape’

Most Read