Find out how residential construction fared across Canada in July
Canada’s annual pace of housing starts ticked upwards in July and posted a 1.1% increase over the previous month, the country’s national housing agency has revealed.
The seasonally adjusted annual rate of July housing starts was 275,329 units, according to Canada Mortgage and Housing Corporation (CMHC), up from June despite a drop in urban starts.
The pace of urban starts came in at 254,371 units, a decline of 0.8%, with single-detached urban starts falling by 2.3% (to 58,384 units) and multi-unit urban starts also slipping by 0.3%, to 195,987 units.
Rural starts came in at an estimated seasonally adjusted annual rate of 20,958 units, while the six-month moving average of the monthly seasonally adjusted annual rates rose from June – from 257,862 units to 264,426 last month.