Canada’s Housing Starts Increase in March

Housing starts in Canada increased to 273,664 units last month up from 252,636 units in February, data by Canada Mortgage and Housing Corporation (CMHC) showed on Monday.

The standalone monthly seasonally adjusted annual rates (SAAR) of housing starts for all areas in Canada stood at 335,200 units in March, rising by 21.6% from 275,567 units in the previous month.

Meanwhile, the SAAR of urban starts rose by 24.4% in March to 300,973 units.

Multiple urban starts grew by 33.8% to 222,358 units last month, while single-detached urban starts leveled up by 3.6% to 78,615 units in March.

Rural starts increased to a seasonally adjusted annual rate of 34,227 units.