Canadian housing starts soared 26% in June, rising to a seasonally adjusted annual rate of 245,657 units compared with 196,809 units in May, the Canada Mortgage and Housing Corp. (CMHC) reported. The increase exceeded the government’s expectations for starts.
Urban starts jumped 26%, multiple urban starts increased 31% and rural starts were estimated at a seasonally adjusted rate of 11,419 units in June, a 25% drop compared with 15,391 units reported in May.
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