Canadian housing starts fell 19.9 per cent in April from March, returning to a downward trend that began last year, largely on a sharp drop in construction of condos. Housing starts dropped to a seasonally adjusted annualized rate of 117,400 units from a revised 146,500 units in March, Canada Mortgage and Housing Corp. said. New construction of multiple dwellings, such as condos, tumbled 32.7 per cent to an annual rate of 54,700 units in April. Ontario led all regions in lower new home construction with a 43.7-per-cent drop in April. Atlantic Canada followed with a 16-per-cent drop in starts, while Quebec fell 7.1 per cent. The Prairies reported a 3.0-per-cent fall in new home construction. Only B.C. edged higher with a 1-per-cent increase in urban starts.
Lance Q
19.9 per cent fall from April to March is pretty hefty…