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.