May 5th - 2009

Ontario home starts increase in March

Ontario home starts bucked a three month downward trend in March; preliminary Seasonally Adjusted Annual Rate (SAAR) of urban home starts rose to 60,900 unit starts, up from 45,100 starts in February, according to CMHC.

Ontario home starts bucked a three month downward trend in March; preliminary Seasonally Adjusted Annual Rate (SAAR) of urban home starts rose to 60,900 unit starts, up from 45,100 starts in February, according to CMHC. Ontario residential construction activity was boosted by strength in the apartment construction sector. Ontario apartment construction helped boost activity across the nation with all area Canada home starts increasing to 154,700 SAAR units in March, from 136,100 SAAR in February. The longer term trend for Ontario housing starts has been one of high starts levels gradually edging lower from peak levels in 2003-04.

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