Home Breadcrumb caret Economy Breadcrumb caret Economic Indicators Housing starts fell in March: CMHC The annual pace of housing starts slowed in March compared with February said the Canada Mortgage and Housing Corp. on Tuesday. The seasonally adjusted annual rate slowed to 225,213 units last month compared with 231,026 in February. Multiple urban starts, which includes buildings such as apartments, townhouses and condominiums, fell 7.3% to 144,578 units in […] By Staff, with files from The Canadian Press | April 10, 2018 | Last updated on April 10, 2018 1 min read The annual pace of housing starts slowed in March compared with February said the Canada Mortgage and Housing Corp. on Tuesday. The seasonally adjusted annual rate slowed to 225,213 units last month compared with 231,026 in February. Multiple urban starts, which includes buildings such as apartments, townhouses and condominiums, fell 7.3% to 144,578 units in March. Read: Canadians reveal highest home purchase intent in 8 years: poll Single-detached urban starts increased 9.5% to 63,659. Meanwhile, rural starts were estimated at a seasonally adjusted annual rate of 16,976 units. The six-month moving average of the monthly seasonally adjusted annual rates edged up to 226,842 units in March compared with 225,804 in February. Royce Mendes, senior economist at CIBC Economics, said in a note to clients that higher interest rates and OSFI’s mortgage stress test that came into force in January would likely “keep a lid on growth in the sector.” “We continue to expect that homebuilders will break ground at a slower rate over the remainder 2018,” he said. Also read: Drop in Toronto home prices improves housing affordability in Q4: RBC Millennial cushioning drop in Toronto, Vancouver House prices Staff, with files from The Canadian Press The Canadian Press is a national news agency headquartered in Toronto and founded in 1917. Save Stroke 1 Print Group 8 Share LI logo