Canada: Housing starts increase for fourth straight month in March
April 11, 2012
According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualized housing starts increased to 215,600 units in March, which was up 5.0% from a revised 205,300 units in February (previously reported: 201,100 units). The reading came in above market expectations, which had housing starts at 200,000 units. According to the CMHC, the monthly increase mainly reflected a rise in multiple housing starts. The 6-month moving average rose 1.1% over the previous month, from 202,400 units in February to 203,400 units in March. The CMHC estimates that housing starts will reach 190,000 units in 2012 and 193,800 units in 2013.