Canada Mortgage and Housing Corp. reports annual rate of housing starts rose in April
The Canadian Press
Published Monday, May 16, 2022 9:16AM EDT
Last Updated Monday, May 16, 2022 9:16AM EDT
Canada Mortgage and Housing Corp. says the annual pace of new home construction in April rose eight per cent compared with March.
The housing agency says the seasonally adjusted annual rate of housing starts in April was 267,330 units, up from 248,389 in March.
The increase came as the annual rate of urban starts rose 10 per cent to 245,324 units in April.
The annual rate of multi-unit urban starts rose 14 per cent to 178,092, while the pace of single-detached urban starts increased by one per cent to 67,232.
Rural starts were estimated at a seasonally adjusted annual rate of 22,006 units.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 257,846 units in April, up from 253,226 in March.
This report by The Canadian Press was first published May 16, 2022.