The six-month moving average of Canadian housing starts in August was 219,447 units, a 1 percent increase compared with 217,339 units in July, according to the Canada Mortgage and Housing Corporation.
“Canada’s trend in housing starts was above the 200,000-unit mark for the eighth consecutive month,” said Bob Dugan, CMHC’s chief economist, in a statement. “Demand for new homes remains strong, consistent with consumer confidence, which reached its highest level in 10 years.”
Month-over-month, the seasonally adjusted annual rate of Canadian housing starts in August was 223,232, a 0.5 percent increase from 221,974 in July. Multifamily starts increased 2.7 percent to 145,618, and urban single-family starts decreased 3.2 percent to 61,906.
