(Ottawa) Housing starts trended lower in March from February as urban starts of apartments, condos and other types of multi-unit housing developments slowed, according to the Canada Mortgage and Housing Corporation.
Posted at 9:49
The national housing agency says the seasonally adjusted rate of housing starts came in at 246,243 units, down from 250,246 in February.
The decline came as the pace of urban housing starts slowed 2% to 220,708 in March.
The annual rate of urban multi-unit starts fell 5% to 154,876, while the pace of urban single-family starts increased 8% to 65,832.
Rural housing starts were estimated at a seasonally adjusted annual rate of 25,535 units.
The six-month moving average of seasonally adjusted monthly annual housing starts rates was 252,497 in March, down from 253,296 in February.