The seasonally adjusted annualized rate of housing starts fell 11% to 213,865 units from a revised 240,927 units in February, the Canadian Mortgage and Housing Corporation said. Economists had expected starts to fall to 237,800.
"With interest rates remaining high, it continues to be challenging for developers and homebuilders to get projects started." For the first quarter, starts averaged 223,000, the weakest quarter since the depth of the COVID-19 pandemic in early-2020, Robert Kavcic, a senior economist at BMO Capital Markets, said in a note.
Realtor: “It’s on fire !!!”
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