Canadian housing starts in February posted their biggest one-month gain since 1983, powered by condominiums.
The annualized pace of home starts jumped 29 percent to 212,594 units, Ottawa-based Canada Mortgage & Housing Corp. said on its website Tuesday. The total exceeded all 14 predictions in a Bloomberg News economist survey that called for a pace of 180,000.
Multiple urban starts increased by 46 percent to 138,774 units in February on an annualized basis, driven by gains in British Columbia and Ontario. Single-detached urban starts increased 6.1 percent to 61,457 units.