Housing starts pace drops 11% as high interest rates challenge builders

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CMHC data show the pace of housing starts in Canada fell 11% in March. Find out more

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The CMHC on April 19 said the seasonally adjusted annual rate declined to 213,865 units in March from 240,927 units in February.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.

“With interest rates remaining high, it continues to be challenging for developers and homebuilders to get projects started,” he said in a press release.in March due to more than twice as many multi-unit starts compared to February.

 

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