The six-month moving average of Canadian housing starts in June was 215,459 units, a 0.4 percent increase compared with 214,570 units in May, according to the Canada Mortgage and Housing Corporation.
The six-month moving average of Canadian housing starts in June was 215,459 units, a 0.4 percent increase compared with 214,570 units in May, according to the Canada Mortgage and Housing Corporation.
“The trend in housing starts for Canada reached its highest level in almost five years,” said Bob Dugan, CMHC’s chief economist, in a statement. “So far this year, all regions are on pace to surpass construction levels from 2016 except for British Columbia, where starts have declined year-to-date after reaching near-record levels last summer.”
Month-over-month, the seasonally adjusted annual rate of housing starts in Canada in June was 212,695, an 9.09 percent increase from 194,955 in May. Multifamily starts increased 9.4 percent to 127,944, and urban single starts increased 10.1 percent to 66,829.
