Canada: Housing starts rise in February
March 8, 2012
According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualized housing starts increased to 201,100 units in February, which was up 1.5% from a revised 198,100 units in January (previously reported: 197,900 units). The reading came in slightly 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 1.6% over the previous month, from 199,400 units in January to 201,100 in February. The CMHC estimates that housing starts will reach 190,000 units in 2012 and 193,800 units in 2013.