Canada Mortgage and Housing Corporation (CMHC) reported a slight increase in housing starts in Prince Edward Island for February.
According to CMHC, housing starts in the province were trending at 442 units in February, compared to 433 in January. The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
“The trend in residential construction in urban centres on Prince Edward Island was up slightly in February following the strong start to the year observed in January,” said Claude Gautreau, Senior Market Analyst with CMHC’s Atlantic Business Centre. “The positive results observed thus far in 2015 stem mainly from increased multi-residential construction activity in the Charlottetown area,” added Gautreau.
The standalone monthly SAAR was 226 units in February, down from 945 in January.