CMHC reports annual pace of housing starts up 22 per cent in April
Canada Mortgage and Housing Corp. says the annual pace of housing starts in April rose 22 per cent compared with March, powered by an increase in starts of multi-unit urban homes.
The national housing agency says the seasonally adjusted annual rate of housing starts in April came in at 261,559 units, up from213,780 in March.
The overall increase came as the annual pace of urban starts rose 26 per cent to 241,585 units in April, while the annual rate of multi-unit urban starts rose 33 per cent to 201,621 units. The annual rate of single-detached urban starts fell two per cent to 39,964.
The annual pace of housing starts in Vancouver was up 36 per cent, while Toronto’s climbed 54 per cent. Starts in Montreal gained 43 per cent.
The annual rate of rural starts was estimated at 19,974 units.
The six-month moving average of the monthly seasonally adjusted annual rate was 240,403 units in April, down 0.2 per cent from 240,876 units in March.