Housing starts in Canada were trending at 183,515 units in April compared to 184,602 in March, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“In April, the trend in housing starts was essentially stable at 183,515 units. This is in line with CMHC’s analysis indicating that the new home construction market in Canada is headed for a soft landing in 2014,” said Mathieu Laberge, Deputy Chief Economist. “Over the remainder of the year, builders are expected to continue to adjust activity, particularly with respect to multiples, in order to manage inventory levels.”