More homes being built in February compared to January, CMHC data says.

Original article via Toronto Star. Click here to read.

The pace of new home construction picked up unexpectedly in February driven by strength in the condo market in major cities, Canada Mortgage and Housing Corp. said Thursday.

Meanwhile, Statistics Canada reported that building permits rose beyond expectations in January — particularly in the condo market — signalling continued strength in the multi-family dwelling category.

CMHC said the seasonally adjusted annual rate of housing starts increased to 229,737 units in February, up from 215,260 in January.

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