Housing starts are now on pace to hit 204,669 units in Canada, whereas January saw them hitting 200,255 units, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

"This winter has seen Canada's national housing starts trend upward, supported mostly by increased construction of homes in Ontario," said Bob Dugan, CMHC Chief Economist. "New single-detached home construction in Ontario is reaching levels not seen in the province since July 2008 - offsetting recent slowdowns in British Columbia."