National Housing Starts Drop Slightly In March

According to the Canada Mortgage and Housing Corporation, national housing starts decreased from February to March, from 180,236 units to 179,016 units. While there was a decrease, the trend is in line with the six-month moving average of seasonally adjusted annual rates (SAAR).

“Despite recent month-to-month changes in the SAAR, the trend in housing starts essentially held steady in March compared to February,” said the Chief Economist at the Canada Mortgage and Housing Corporation’s market Analysis Centre, Bob Dugan. “However, the trend in housing construction moved lower since September 2014, partly reflecting efforts to manage the level of completed but unsold units.”

Housing start trends are used by the Canada Mortgage and Housing Corporation to help get a better picture of the national housing market. Housing starts increased during the month of March in Ontario, British Columbia, Quebec and the Prairies.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s