OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in April edged down one per cent compared with March.
The seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, down from 242,267 in March, according to a report Wednesday by the national housing agency.
The downward trend in housing starts was largely driven by fewer multi-unit starts, particularly in Ontario, said CMHC chief economist Bob Dugan. Despite the overall decline, TD economist Rishi Sondhi said starts"continue to run at a healthy level," with government measures and rapidly rising rents supporting the construction of purpose-built rental units.
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