Canada: Housing starts rise in July
August 11, 2020
Housing starts increased to 245,604 units on a seasonally-adjusted annualized rate (SAAR) basis in July, according to the Canada Mortgage and Housing Corporation (CMHC), up from June’s 212,095-unit reading. July’s rise was driven by a healthy jump in both single-detached and multi-units in urban areas.
Meanwhile, the six-month average of housing starts in urban areas increased to 204,376 units in July from 199,778 units in June.
Author: Steven Burke, Economist