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Published 1 month ago

Housing starts down seven per cent in March from February: CMHC

  • The annual pace of housing starts in Canada decreased by seven percent in March compared to February, dropping to 242,195 units.
  • Large urban centres saw a 16% increase in actual housing starts year-over-year, with Toronto up 10% and Vancouver up 15% due to a rise in multi-unit starts.
  • Despite a decline in March, housing starts remain strong, supported by high prices and firm pre-construction sales, according to TD economist Rishi Sondhi.
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