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Housing starts in Canada slipped by 11% over a month earlier to 213,865 units in March of 2023, undershooting market expectations of 227,800 units.
The SAAR of total urban starts declined 12% to 192,545 units recorded in March, as single-detached urban starts decreased 16% to 40,776 units while multi-unit urban starts increased 11% to 151,769 units.
The rural starts monthly SAAR estimate was 21,320 units.