Housing starts slide in April

The seasonally adjusted annual rate of housing starts was 268,631 units in April, according to the Canada Mortgage and Housing Corp. That was a decrease of 19.8 percent from 334,759 units in March. The SAAR of urban starts decreased by 16.9 percent to 251,504 units. Multiple urban starts decreased by 22.8 percent to 251,504 units while single-detached urban starts decreased a slight 0.1 percent to 78,918 units. Rural starts were estimated at a seasonally adjusted annual rate of 17,127 units.