Canadian housing starts decreased 10% in July to 254,966 units, according to the Canada Mortgage and Housing Corporation.
The dip followed June’s 283,498 housing start rate, which was Canada’s strongest month for housing starts so far in 2023. Despite July’s decline from June, housing starts remained 7.4% above the five-year average.
Total urban housing starts decreased 11%. Multi-urban starts fell 12%, and single-detached urban starts declined 4%.
Housing starts in Vancouver and Toronto dropped 23% and 29%, respectively, while Montreal, Calgary and Edmonton recorded housing start increases of 12%, 33% and 67%.
Read Next
