Canada Housing Starts Decline 7% in March From February to 242,195

By Paul Vieira

OTTAWA--Canadian housing starts fell in March, as strong construction activity in Vancouver, British Columbia was offset by declines in Toronto and Montreal.

Housing starts across Canada came in last month at a seasonally-adjusted annualized rate of 242,195 units, a 7% decrease from February's revised 260,047 figure, Canada Mortgage and Housing said Tuesday. The result was largely in line with market expectations for 243,500 units, according to economists at TD Bank.

The trend measure--a six-month moving average of the monthly seasonally-adjusted annual rate of housing starts--fell 1.6% to 243,957 units.

Write to Paul Vieira at paul.vieira@wsj.com

(END) Dow Jones Newswires

04-16-24 0839ET