Canada Housing


Canada: Housing starts climb up in June

July 10, 2012

According to the government-owned Canada Mortgage and Housing Corporation (CMHC), seasonally adjusted annualized housing starts rose to 222,700 units in June, which was up 2.4% from a revised 217,400 units in May (previously reported: 211,400 units). Moreover, the reading came in above market expectations that had housing starts moderating to 205,000 units. According to the CMHC, "the monthly increase posted in June was mainly attributable to multiple urban starts". The 6-month moving average rose 1.7% over the previous month, from 214,800 units in May to 218,500 units in June, and thus continues to follow a well-established upward trend. The CMHC estimates that housing starts will reach 202,700 units in 2012 and 195,700 units in 2013


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