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Housing starts declined in March
The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada declined 11% in March (213,865 units) compared to February (240,927 units) according to Canada Mortgage and Housing Corporation (CMHC). The monthly SAAR of total urban starts (centres 10,000 population and over) declined 12%, with 192,545 units recorded in March. Multi-unit urban starts increased 11% to 151,769 units, while single-detached urban starts decreased 16% to 40,776 units. Among the Vancouver, Toronto, and Montreal CMAs, only Vancouver recorded an increase in total SAAR housing starts in March, up ... (full story)