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Canada Housing July 2020

Canada: Housing starts rise in July

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.

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