The Canada Mortgage and Housing Corporation (CMHC) released housing starts data on Friday. Housing starts in Canada decreased to a seasonally adjusted annualized rate of 181,814 units in April from a revised reading of 189,546 units in March. March's figure revised down from 189,708 units.
Analysts had expected a decline to 182,000 units.
The CMHC's Chief Economist Bob Dugan said that housing starts activity declined since September 2014 to current stable levels "as builders have adjusted activity to manage inventories".
"This trend is in line with CMHC's expectations for housing starts in 2015," he added.