Housing starts brisk in March; Q1 numbers up over a year ago: CMHC 
The Canadian Press
Canada Mortgage and Housing Corp. reports the annual rate of housing starts was 254,700 units in March, down slightly from 255,600 units in February.
For the first quarter of 2008, actual starts, in rural and urban areas combined, were up about 12.8 per cent compared to the same period last year.
CMHC's chief Economist Bob Dugan says the strong showing in March is largely due to construction of multiple-family dwellings, particularly condominiums.
Dugan says construction starts among single-detached homes, usually a strong trend indicator, decreased slightly.
CMHC predicts the housing market will moderate gradually throughout 2008.
Urban starts edged down by 0.4 per cent to 221,500 units in March.
Urban multiples were up 1.1 per cent to 141,000 units, while singles decreased 2.9 per cent to 80,500 units.
Rural starts were estimated at an annual rate of 33,200 units in March.
www.adamaffleck.com
www.atlanticrealtysolutions.com
Adam Affleck
Charlottetown Remax Realty
Comments(0)