February housing starts in St. John's
ST. JOHN`S, NEWFOUNDLAND AND LABRADOR`(Marketwired ` March 10, 2014) - Housing starts in St. John`s, Census Metropolitan Area (CMA) were trending at 1,845 units in February compared to 1,829 in January according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup]1[/sup] of housing starts.
`Residential construction activity in St. John`s trended higher in February,` said Chris Janes, Senior Market Analyst with CMHC`s Atlantic Business Centre. `Single-detached starts advanced marginally compared to the same month a year ago, while there was a significant increase recorded in multiple starts,` added Janes.
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