CMHC reports annual pace of housing starts up 1.1 per cent in July
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OTTAWA –
Canada Mortgage and Housing Corp. said that July’s annual pace of housing start was slightly higher than June despite slower urban starts.
According to the housing agency, July’s seasonally adjusted annual rate for housing starts was 275,329 units. This is an increase of 1.1% from June.
Urban starts decreased by 0.8% to 254,371 units in July. Multi-unit urban starts declined by 0.3% to 195,987 units.
The rate of single-detached urban start fell 2.3% to 58.384 units.
Rural starts were also estimated at 20,958 units per year, seasonally adjusted.
The six-month moving median of monthly seasonally adjusted annual rate rates was 264 426 units in July. This is an increase from 257 862 in June.
This report by The Canadian Press first appeared Aug. 16, 2022.
Source: CTV
