Ekonomické zprávy

Canada’s housing starts increase more than expected in April

The data, published by the Canada Mortgage and Housing Corp. (CMHC) on Monday, showed that the seasonally adjusted annual rate of housing starts came in at 261,559 units in April, up 22.3 percent from a downwardly revised 213,780 units (from 213,865 units) in March. That was the highest reading since November 2022 (263,177 units).

Economists had predicted an annual pace of 220,000 for April.

According to the report, urban starts surged 25 6 percent m-o-m last month to 241,585 units, reflecting a 33.0 percent m-o-m climb in multiple urban starts to 201,621 units (the highest figure since October 2022 (241986)) that was partly offset by a 1.8 percent m-o-m fall in single-detached urban starts to 39,964 (the lowest number since April 2020 (35,937)).

Meanwhile, rural starts were calculated at a seasonally adjusted annual rate of 19,974 units, down 6.8 percent m-o-m. That was the weakest print since June 2022 (16,414).

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