ONTARIO – The trend in housing starts was 203,554 units in February 2019, compared to 207,742units in January 2019, according to Canada Mortgage and HousingCorporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“The national trend in housing starts resumed its downward trajectory in February while still remaining above historical average,” said Bob Dugan, CMHC’schief economist. “Both single-detached and multi-unit dwelling starts trended lower. Higher mortgage rates combined with still-favorable, but less stimulative economic conditions have contributed to softer demand on new home markets in urban centers.
Source: The Garage Door News, April 2019
