Canadian Home Building Hums Along at Decade-Best Pace

Canadian builders continued their elevated pace of construction in March, with developers producing another stronger-than-expected result.

Builders began work on an annualized 225,213 units during the month, Canada Mortgage and Housing Corp. said Tuesday in Ottawa. Construction has averaged 226,842 units since October, the highest six-month average in a decade.

Read more at Bloomberg

Condo construction starts hit new record in Toronto

The red-hot condominium market drove an increase in new home construction in Canada last month as starts of single detached houses continued to fall, new data shows.

Housing starts rose to 229,737 in February, a 7 per cent increase compared to the previous month, according to seasonally adjusted annual rates from the Canada Mortgage and Housing Corporation. Construction of condominiums and other dwellings containing multiple units jumped by 14 per cent nationwide, compared to a 7 per cent decline in single-detached houses.

Read more at Financial Post