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

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.

Be Among The First To Know

Create a free account today, and start receiving free newsletters.

Sign Up with google Sign Up with facebook

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Reset your password

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

A link has been emailed to you - check your inbox.



Don't have an account? Click here to sign up