National Housing Starts Down In February

The Canada Mortgage and Housing Corporation’s latest national home starts data reveal that housing starts in Canada decreased slightly in February, to 182,137 units from 188,761 in January.

“The trend in housing starts decreased for a fifth consecutive month in February and reflects a decreasing trend in multiple starts,” said the chief economist at the Canada Mortgage and Housing Corporation’s Market Analysis Centre, Bob Dugan. “The declining trend in multiple starts is helping to gradually erode the inventory of completed and unsold units, which is high compared to historical levels.”

The purpose of analyzing housing start trends is to allow the Canada Mortgage and Housing Corporation to measure and account for changes in monthly estimates and better understand the state of the national housing market in Canada.

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