Canada: Housing starts push higher in February
March 8, 2011
The Canadian housing market rose for a second straight month in February. According to the government-owned Canada Mortgage and Housing corporation (CMHC), seasonally adjusted annualized housing starts reached 181,900 units in February, up 6.6% from a revised 170,600 units in January (previously reported: 170,400 units). Moreover, the figure came in above market analyst expectations of 173,500 housing starts in February. The CMHC estimates housing starts will total 174,800 units in 2011.