Canada’s Housing Starts Stay at 255,000 Units in March
Abstract:
Canada Mortgage and Housing Corporation (CMHC) announced today that March 2008 housing starts, at 255,000 units seasonally adjusted and annualized, were almost exactly the same as February’s level of 256,000 units. January’s figure was also relatively high at 228,000 units. The average in first-quarter 2008 was 246,300 units, an increase of 9.0% versus the average in the first quarter of last year. Multiple-unit starts have led the way. However, builders should take note − unsold inventory is climbing.
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Canada Mortgage and Housing Corporation (CMHC) announced today that March 2008 housing starts, at 255,000 units seasonally adjusted and annualized, were almost exactly the same as February’s level of 256,000 units. January’s figure was also relatively high at 228,000 units. The average in first-quarter 2008 was 246,300 units, an increase of 9.0% versus the average in the first quarter of last year. Multiple-unit starts have led the way. However, builders should take note − unsold inventory is climbing.