Canada Mortgage and Housing Corporation says the pace of Canadian housing starts remained brisk in March, with construction of apartments and condos remaining strong.
The housing agency estimates there were 14,517 actual starts in March, which translates to a seasonally-adjusted annual rate of 215,600 units.
The adjusted figure irons out monthly variations and is calculated as if the March starts continued at the same pace for a year.
March's seasonally adjusted rate was up from 205,300 units in February.
The agency says the March growth was due to an increase in multiple-unit starts, particularly in Ontario and the Prairies.
It was partly offset by decreased multiple starts in British Columbia and Quebec.
Single-detached starts decreased marginally across Canada.
Urban starts rose by 4.2% in March to 192,100 units on a seasonally adjusted annual basis.
Related Stories
