Canadian Housing Starts Up 8.3% in June

Canadian housing starts increased 8.3% in June to a seasonally adjusted annual rate of 211,681 units, the Canadian Mortgage and Housing Corporation reports.

The growth was due to multi-family starts in the Toronto and Montreal areas, and the country saw declines in most other areas in June, including Vancouver. CMHC expects trends to decline in the near term as a result of the negative impacts of COVID-19.

Urban starts grew 8.7% in June and multiple urban starts jumped 13.0%.

The full report can be found here.

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