Canada Housing June 2021

Canada

Canada: Housing starts ease slightly in June, but remain upbeat

July 16, 2021

Housing starts ticked down to 282,010 units on a seasonally-adjusted annualized rate (SAAR) basis in June according to the Canada Mortgage and Housing Corporation (CMHC), from May’s 286,296-unit reading. June’s slight fall was driven by a dip in single-detached urban starts, while multi-urban starts increased moderately over the previous month.

Meanwhile, the six-month average of housing starts in urban areas rose to 293,567 units in June from 284,837 units in May, and marking the highest level since at least 1990.

FocusEconomics Consensus Forecast participants expect 256,700 housing starts in 2021, and an increase to 221,100 units in 2022.


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