Pace of housing starts slowed in April says CMHC

OTTAWA – Canada Mortgage and Housing Corp. says the pace of housing starts slowed in April, mainly because of a decline in urban multiple starts.

The agency estimates there were 15,390 actual starts in April and extrapolates that to a seasonally adjusted annual rate of 174,858 units, down from 181,146 in March.

The seasonally adjusted annual rate of urban starts was down 2.5 per cent, led by a 3.5 per cent decline in multiple urban starts.

Single urban starts remained relatively unchanged from March.

April’s seasonally adjusted annual rates of urban starts decreased in Atlantic Canada, Ontario and British Columbia.

They increased in Quebec and the Prairies.