CMHC reports annual pace of housing starts slowed in March

Housing starts slowed

Photo: The Canadian Press

Townhouses under construction are seen in Delta, B.C., on Monday, Aug. 12, 2024.  

Canada Mortgage and Housing Corp. says the annual pace of housing starts in March slowed compared with February.

The national housing agency says the seasonally adjusted annual rate of housing starts came in at 214,155 units in March, down from 221,405 in February.

The change came as the annual pace of starts in centres with a population of 10,000 or greater fell 2.8 per cent to 203,285 compared with 209,093 in February.

The annual pace of starts of single-detached homes in centres with a population of 10,000 or greater rose one per cent to 43,012 in March, while the rate of starts of all other homes in centres with a population of 10,000 or greater fell four per cent to 160,273.

The annual pace of rural starts was estimated at 10,870 in March.

The six-month moving average of the seasonally adjusted annual rate fell 0.7 per cent in March to 235,316.