Housing starts rise in February

The annualized rate of housing starts rose by 13 percent in February to 243,959 units, according to the Canada Mortgage and Housing Corp. The monthly rate of total urban starts was up 16 percent, with 222,663 units recorded in February. Single-detached urban starts increased eight percent to 48,918 units. Rural starts for the month were estimated at an annualized pace of 21,296 units.