A report released yesterday by Canada Mortgage and Housing Corporation (CMHC) revealed that the seasonally adjusted annual rate of housing starts was up from 205,300 units in February to 215,600 units in March.
Deputy Chief Economist at CMHC’s Market Analysis Centre attributed March’s upward movement “…to an increase in multiple starts, particularly in Ontario and the Prairies”. Ontario saw the biggest increase in multiple starts which saw an overwhelming increase of 50.4%. The report reveals that although this increase was exceptional, it is not expected to be sustained.
“As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.”
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