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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Raptors take over Kanaka Creek centre in Maple Ridge

Family Day event saw a record number of visitors

Pitt Meadows pickleball pro wins pair of medals in Toronto

Steve Deakin switched to the sport from tennis a couple years ago and never looked back

Maple Ridge wrestlers dominate provincials

‘Truly amazing,’ said Maple Ridge coach Bill McCrae

Looking Back: Student and youth protests go way back

Nothing new when it comes to carrying signs

LETTER: Pitt Meadows prof locks himself away to learn more about today’s budget

B.C. budget risks reducing life expectancy by over investing in medical care: Kershaw cites study

VIDEO: 7 things you need to know about the 2020 B.C. budget

Surplus of $227 million with big spending on infrastructure and capital projects

Large amount of alleged street drugs found in Vancouver apartment, two men hospitalized

Police are working to test the alleged drugs found in the apartment

Higher costs should kill Trans Mountain pipeline, federal opposition says

Most recent total was $12.6 billion, much higher than a previous $7.4-billion estimate

Wet’suwet’en hereditary chiefs say they’ll meet with ministers if RCMP get out

Federal minister in charge of Indigenous relations has proposed a meeting to diffuse blockades

Trees Cannabis director fined $1.5M for selling marijuana

Fine follows provincial crackdown on popular dispensary

World Cup skier from Okanagan dies suddenly at 19

Kuroda, who made his World Cup debut earlier this year, passed away suddenly Monday night.

Coastal GasLink pipeline investor committed to closing deal despite protests

Developer TC Energy Corp. — formerly TransCanada Corp. — is to remain the operator of the $6.6-billion pipeline

New highway proposed between Alberta and B.C.

The route would connect Red Deer to Kamloops

What’s in a name? The story of Revelstoke’s Mt. Begbie

It’s likely the iconic peak had several Indigenous peoples’ names before settlers arrived

Most Read