Housing starts surge in March

OTTAWA ― The seasonally adjusted annual rate of housing starts was 192,527 units in March, according to the Canada Mortgage and Housing Corp., up 15.8% from 166,290 units in February. The SAAR of urban starts increased by 17% to 178,033 units. Multiple urban starts increased by 18.6% to 135,894 units in March while single-detached urban starts increased by 12.1% to 42,139 units. Rural starts were estimated at a seasonally adjusted annual rate of 14,494 units.