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.