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CMHC: Housing starts fall 62% in March

New housing projects in Wood Buffalo fell 62% in March, according to the Canada Housing and Mortgage Corporation.

It says last month there were 8 housing starts, compared to last year’s 21.

Compared to last year there was a 92% drop in single-family homes, and a 100% drop in multiples.

So far this year, the region has started building 119 houses, down 21% from the 150 it built at this time the year before.

Provincially, in March housing starts were up almost 16%, while nationally they fell almost 18%.