Housing starts in Canada increased 16% month-over-month in July, rising to a seasonally adjusted annual rate of 279,509 units, according to the Canada Mortgage and Housing Corporation.
In Canadian urban areas with a 10,000 or greater population, there were 132,823 housing starts between January and July, compared with 123,593 starts between January and July 2023.
“Both the seasonally adjusted annual rate and trend of housing starts increased in July,” CMHC’s Chief Economist Bob Dugan said in a statement. “This was due to growth in actual year-over-year starts, driven by higher multi-unit starts, particularly in Calgary and Ottawa. As the national housing shortage continues, developers remain focused on multi-unit construction in Canada’s major centres.”
Read the full Canadian housing starts report here.
