The seasonally adjusted annual rate of Canadian housing starts climbed to 196,700 units in February from 185,400 units in January, according to Canada Mortgage and Housing Corp. Bob Dugan, chief economist at CMHC, said the volatile multifamily starts segment drove the increase. The seasonally adjusted annual rate of urban multifamily starts in Canada jumped 19.1% during the month while single-family starts inched up by just 0.5% during the period. The smaller rural start segment was estimated at a seasonally adjusted annual rate of 17,600 for the month.
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