Housing starts decline in February

OTTAWA ― Housing starts fell 16.3% to a seasonally adjusted annual rate of 173,153 units in February, the Canada Mortgage and Housing Corp. reports, compared to 206,809 units in January. The SAAR of urban starts decreased by 18% to 155,663 units. Multiple urban starts decreased by 20.2% to 116,284 units, while single-detached urban starts decreased by 10.6% to 39,379 units. Rural starts were estimated at a seasonally adjusted annual rate of 17,490 units.