Canada’s July Housing Starts Increase 1.1 Percent

The six-month moving average of Canadian housing starts in July was 217,550 units, a 1.1 percent percent increase compared with 215,175 units in June, according to the Canada Mortgage and Housing Corporation.

“In July, Canada’s pace in housing construction ramped up for a seventh consecutive month,” said Bob Dugan, CMHC’s chief economist, in a statement. “British Columbia and Alberta were the main contributors to the higher trend in housing starts.

Month-over-month, the seasonally adjusted annual rate of housing starts in Canada in July was 222,324, a 4.4 percent increase from 212,948 in June. Multifamily starts increased 10.4 percent to 141,950, and urban single-family starts decreased 3.9 percent to 64,172.