Canadian housing starts in August continued to fall from a historical peak recorded in March, dropping to 200,986 units, compared with 205,751 units in July, according to Canada Mortgage and Housing Corporation (CMHC).
Canadian housing starts in August continued to fall from a historical peak recorded in March, dropping to 200,986 units, compared with 205,751 units in July, according to Canada Mortgage and Housing Corporation (CMHC).
Nationally, the seasonally adjusted annual rate of urban starts fell by 2.5 percent compared with July, with multiple urban starts dropping 2.4 percent and single-detached urban starts decreasing by 2.6 percent.
“This moderation brings total starts closer to historical averages, largely reflecting recent declines in the trend of multi-unit starts from historically elevated levels earlier this year,” said CMHC Chief Economist Bob Dugan in a statement.
