July Housing Starts Increase

The trend in housing starts was 204,376 units in July, up from 199,778 units in June, says the 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. The standalone monthly SAAR of housing starts for all areas in Canada was 245,604 units in July, an increase of 15.8 per cent from 212,095 units in June. Higher multi-family starts in major urban areas, including Toronto, ON, Vancouver, BC, and oil-producing centres in the Prairies drove the national increase. The SAAR of urban starts increased by 17.4 per cent, multiple urban starts increased by 18.8 per cent, and single-detached urban starts increased by 12.3 per cent. Rural starts were estimated at a SAAR of 13,609 units.