Housing starts continue their trend higher at 22,342 units in March 2017 according to Canada Mortgage and Housing Corporation (CMHC).
CMHC March Housing Starts Chart
According to Bob Dugan, CMHC's Chief Economist, March housing starts were at their highest level since 2007.
Actual housing starts in Vancouver reached their highest level on record for March since 1972, driven by new apartment construction. Housing starts in Toronto moved higher in March in all housing types. Apartments saw the strongest growth, while single-detached construction continues its trend upward that started last summer.
Hamilton CMA saw housing starts decrease as townhome starts declined, despite strength in semis and singles. Buyers from Toronto and Hamilton continue to add demand in St. Catharines-Niagara shrinking inventory.
Montreal saw continued strength in multi-unit residential construction. Singles in Charlottetown reached levels not seen since 1987.
