The Canadian housing market is starting to speed up this spring. (File photo)

Pace of Canadian housing starts up in March on seasonally adjusted basis: CMHC

Condo, apartment and townhouse starts increase by 18.6% in March

Canada Mortgage and Housing Corp. says the pace of housing starts picked up in March.

The national housing agency says the seasonally adjusted annual rate of housing starts climbed to 192,527 units in March, compared with 166,290 units in February.

Economists on average had expected an annual pace of 196,500, according to Thomson Reuters Eikon.

The reading came as starts of urban multiple-unit projects such as condominiums, apartments and townhouses increased 18.6 per cent to 135,894 units in March. The rate of single-detached urban starts rose 12.1 per cent to 42,139 units.

Rural starts were estimated at a seasonally adjusted annual rate of 14,494 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 202,279 in March compared with 202,039 in February.

READ MORE: Trudeau sells housing plan in visit to hot real estate market in B.C.

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

COLUMN: Imagine the possibilities at the library

Programs at Summerland Library promote reading among children

Severe thunderstorm watch issued for Okanagan and Connector

Storms expected to develop this morning and intensify early in the afternoon

Update on South Okanagan-Similkameen national park reserve announced Tuesday

Environment and Climate Change minister Catherine McKenna will join others in Osoyoos

Police continue to investigate fatal highway crash

Accident between Summerland and Penticton on Tuesday resulted in death of motorcycle rider

Chilliwack man charged in crash that killed Kelowna pregnant woman

Frank Tessman charged for 2018 Highway 1 accident where Kelowna elementary school teacher died

Suspicious Rutland car fire has one woman thinking it was targeted

A family who raised their voice against the McCurdy Road house has car torched, is it connected?

Vernon Judo coach pleads guilty to child pornography charges

Bryan Jeffrey McLachlan is set to return to court Sept. 4 for sentencing

Olympic skier from B.C. suing Alpine Canada after coach’s sex offences

Bertrand Charest was convicted in 2017 on 37 charges

Action imperative on Missing and Murdered Indigenous Women and Girls

Chief commissioner into national inquiry encourages governments, private sector to act

B.C. senior’s car vandalized for more than 18 months

Retired RCMP officer determined to catch ‘tagger.’

VIDEO: Driver doing laps in busy Vancouver intersections nets charges

Toyota Camry spotted doing laps in intersection, driving towards pedestrians

Summerland golfers compete in league games

Regular club events continue through the summer

NHL stars return to Okanagan for charity slo-pitch game

The Gorges/Comeau Homebase Chairty Tournament returns June 28 in Kelowna

Former Canucks goalie Roberto Luongo to retire

‘Bobby Lou’ calls it a career after 19 NHL seasons

Most Read