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Canada: Housing construction rises by 13% in February

Canada: Housing construction rises by 13% in February

By Omayma othmani

Published: March 15, 2023

The Canada Mortgage and Housing Corporation (CMHC) announced on Wednesday that the number of homes where construction resumed increased by 13% in February compared to the previous month.

The number of homes where construction began last month was counted at 243,959 units, and in the seasonally adjusted and annual data, the units reached 216,514 units in January, according to the federal agency.

The annual rate of homes in urban centers also jumped by 16%, equivalent to 222,663 units in February.

This rate increased by 18%, equivalent to 173,745 units in the multi-family housing sector, and by 8%, totaling 48,918 units in the single-family housing sector.

As for rural areas, the number of homes was estimated at about 21,296 housing units.

The six-month moving average for home construction in February was 255,735 units, compared to 2%, equivalent to 259,830 units in January.

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