Housing starts rise in March

The seasonally adjusted annual rate of housing was 335,200 units in March, according to the Canada Mortgage and Housing Corp., up 21.6 percent from 275,567 units in February. The SAAR of urban starts increased by 24.4 percent in March to 300,973 units. Multiple urban starts increased by 33.8 percent to 222,358 units in March while single-detached urban starts increased by 3.6 percent to 78,615 units. Rural starts were estimated at a rate of 34,227 units.