The Canadian housing market is starting to speed up this spring. (File photo)

Pace of Canadian housing starts up in March on seasonally adjusted basis: CMHC

Condo, apartment and townhouse starts increase by 18.6% in March

Canada Mortgage and Housing Corp. says the pace of housing starts picked up in March.

The national housing agency says the seasonally adjusted annual rate of housing starts climbed to 192,527 units in March, compared with 166,290 units in February.

Economists on average had expected an annual pace of 196,500, according to Thomson Reuters Eikon.

The reading came as starts of urban multiple-unit projects such as condominiums, apartments and townhouses increased 18.6 per cent to 135,894 units in March. The rate of single-detached urban starts rose 12.1 per cent to 42,139 units.

Rural starts were estimated at a seasonally adjusted annual rate of 14,494 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 202,279 in March compared with 202,039 in February.

READ MORE: Trudeau sells housing plan in visit to hot real estate market in B.C.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Canfor curtailing operations across B.C.

Low lumber prices and the high cost of fibre are the cause of curtailment

Nisga’a leader named UNBC chancellor

Dr. Joseph Arthur Gosnell is the first Indigenous leader to assume the role

Fire forces 36 people at Vanderhoof care home to evacuate

No one was hurt after the fire at Stuart Nechako Manor

Repen: FOI data proves Telkwans being ripped off by ICBC

Former Telkwa mayor received a response from ICBC and says the results don’t look good for residents

Fires still burning near Telegraph Creek

BC Wildfire Service assures residents of a proactive plan heading into wildfire season

VIDEO: Killer whales hunt for seals in Vancouver harbour

Bigg’s killer whales feed on marine mammals like seals, sea lions, dolphins and even other whales

Vancouver man, 19, charged in human trafficking case involving teen girl

The 16-year-old girl was reported missing and later discovered in Vancouver

Amber alert issued for 5-year-old Ontario boy

Ethan Montes is believed to be in the company of his mother, 47-year-old Juliet Mohammed

Blaine, Wash. inn owner, charged with smuggling people into B.C., granted bail

Robert Joseph Boule ordered to turn away anyone indicating a plan to enter Canada illegally

RCMP arrest B.C. man following threatening Vaisakhi Facebook post

Post made reference to pressure cooker bomb at massive Surrey parade

Another illegal dump of 200 Dungeness crab discovered in northern B.C.

DFO confident new site related to larger April 2 dump

Northern B.C. high school student reaches 100,000 followers on YouTube

Voice actor, animator, Jericho Fortune has more than 30-million views on his channel GTAGAMER222

University mourns student who died in B.C. canoeing accident

Andrew Milner, 19, was in his second year with the University of Calgary’s basketball program

Most Read