Housing starts down in February

February’s seasonally adjusted annual rate of housing starts in Canada fell by 13.5 percent to 245,922 units, the Canada Mortgage and Housing Corp. reports, compared to 284,372 units in January. The SAAR of urban starts decreased by 14 percent in February to 231,042 units. Multiple urban starts declined by 15.8 percent to 163,757 units while single-detached urban starts were down 9.3 percent to 67,285 units. Rural starts were estimated at a SAAR of 14,880 units.