Housing starts rise in February

OTTAWA ― The standalone monthly rate of housing starts was 212,594 units (seasonally adjusted) in February, up from 165,071 units in January, according to the Canada Mortgage and Housing Corp. The SAAR of urban starts increased by 30.9% in February to 200,231 units. Multiple urban starts increased by 46% to 138,774 units in February and the single-detached urban starts increased by 6% to 61,457 units. In February, the seasonally adjusted annual rate of urban starts increased in British Columbia, Ontario, Quebec, and Atlantic Canada and decreased in the Prairies. Rural starts were estimated at a seasonally adjusted annual rate of 12,363 units.