Canada March housing starts 335K vs 255K expected
March Canadian housing starts from the CMHC
- Prior was 245.9K (revised to 275.5K)
- Multiple urban starts +33.8% m/m
- Single detached urban starts +3.6%
- Full report
"The national trend in housing starts increased in March, reflecting very elevated levels of activity in January and March 2021," said Bob Dugan, CMHC's chief economist. "Multi-family SAAR starts rebounded strongly following decline in February, with Toronto and Vancouver registering particularly large gains in this segment. Single-detached SAAR starts also contributed to the increase in the overall trend in March, but by a relatively modest amount in comparison to Multi-family starts."