Building permits decline in March

OTTAWA —March’s housing starts declined by 7.3 percent to a seasonally adjusted annual rate of 195,174 units, according to the Canada Mortgage and Housing Corp. That number is compared with 210,574 units in February. The SAAR of urban starts decreased by the same percentage to 182,553 units. Multiple urban starts decreased by 13.4 percent to 124,073 units in March while single-detached urban starts increased by 8.8 percent to 58,480 units. Rural starts were estimated at a seasonally adjusted annual rate of 12,621 units.