May 28th, 2024

CMHC reports annual pace of housing starts in April down 1% from March


By The Canadian Press on May 15, 2024.

Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March. A new housing development is shown in Belleville, Ont., on Friday, March 1, 2024. THE CANADIAN PRESS/Chris Young

OTTAWA – Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.

The national housing agency says the seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, down from 242,267 in March.

The overall drop came as the annual pace of starts in urban centres amounted to 220,123 units for April compared with 220,358 in March.

The pace of multi-unit urban starts in April fell one per cent to 178,462, while single-detached urban starts rose two per cent to 41,661 units.

The annual pace of rural starts was estimated at 20,106 units.

CMHC says the six-month moving average of the monthly seasonally adjusted annual rate was 238,585 units in April, down 2.2 per cent from 243,907 units in March.

This report by The Canadian Press was first published May 15, 2024.

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