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Canada Housing February 2021

Canada: Housing starts dip in February

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.

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