Canada: Homebuilding Begins to Show COVID-19 Cracks in March

<p>Canadian housing starts declined 7.3% (m/m) to a reasonably healthy 195.2k units in March. This brought the 6-month moving average down to 204.7k from 209.1k in February. Declines were concentrated in multi-family units, where urban starts dropped -13.4% (m/m) to 124.1k units. In contrast, urban single-detached starts increased by 8.8% (m/m) to 58.5k units. Regionally, […]</p>
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