Canada: Housing starts gain momentum in February
Housing starts rose to 247,256 units on a seasonally-adjusted annualized rate (SAAR) basis in February according to the Canada Mortgage and Housing Corporation (CMHC), from January’s 229,185-unit reading. February’s reading was driven by a rise in multi-urban starts, while single-detached urban starts also increased.
Meanwhile, the six-month average of housing starts in urban areas dipped to 251,605 units in February from 253,890 units in January.