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Pace of housing starts picked up in February: CMHC

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Construction workers build a new home in Oakville, Ont., on April 14, 2009. THE CANADIAN PRESS/Nathan Denette

OTTAWA – Canada Mortgage and Housing Corp. says the pace of housing starts picked up in February.

The agency estimates there were 11,097 actual starts in February, which extrapolated out over 12 months gives a seasonally adjusted annual rate of 192,094 starts, up from 180,481 in January.

It says the seasonally adjusted annual rate of urban starts was up 7.5 per cent to 175,584 in February.

Multiple urban starts rose 13.3 per cent to 116,458 in February, while single-detached urban starts slipped 2.4 per cent to 59,126.

The report says the seasonally adjusted annual rate of urban starts increased in Atlantic Canada and Quebec.

The rate was stable in Ontario and decreased in the Prairies and British Columbia.

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