Canada Housing March 2022

Canada

Canada: Housing starts dip in March

April 19, 2022

Housing starts dipped to 246,243 units on a seasonally-adjusted annualized rate (SAAR) basis in March according to the Canada Mortgage and Housing Corporation (CMHC), from February’s 250,246-unit reading. March’s figure was driven by a fall in multi-urban starts, while single-detached urban starts increased.

Meanwhile, the six-month average of housing starts in urban areas fell marginally to 252,497 units in March from 253,296 in February.

FocusEconomics Consensus Forecast participants expect 244,700 housing starts in 2022 and 225,500 units in 2023.


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Canada Housing Starts March 2022 1

Note: Monthly housing starts and six-month trend in monthly housing starts, both at seasonally-adjusted annualized rate.
Source: Canada Mortgage and Housing Corporation (CMHC).


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