Canada: Housing starts dip in February
March 15, 2021
Housing starts fell to 245,922 units on a seasonally-adjusted annualized rate (SAAR) basis in February according to the Canada Mortgage and Housing Corporation (CMHC), down from January’s bumper 284,372-unit reading. February’s moderation was driven by a decline in both multiple-detached and single-unit urban starts in the month.
Moreover, the six-month average of housing starts in urban areas fell from 245,270 units in January to 242,777 units in February.
Author: Steven Burke, Economist