Housing starts up in July in Canada

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The national housing agency says their number stood at 275,329 last month, up 1.1% from June. (Photo: The Canadian Press)

National housing starts accelerated in July from June, according to the Canada Mortgage and Housing Corporation (CMHC).

The national housing agency says their number stood at 275,329 last month, up 1.1% from June, according to monthly seasonally adjusted annualized (SDA) data.

“The trend and monthly DDAs increased in July compared to June nationally, as the level of housing starts in Canada remains historically high and well above 200,000 since 2020,” says Aled Ab Iorwerth , Chief Economist attached to CMHC, by press release.

In Quebec, the increase is 12% for a total of 52,809 housing starts.

CMHC reports that the pace has still slowed in urban centers due to a drop in the construction of single-detached homes.

“In the Vancouver and Toronto markets, both the multi-family housing segment and the single-family housing segment saw a decrease in housing starts, but the decline was much more marked in the first segment than in the second, while in Montreal, these two segments have experienced a similar decline in activity,” says Aled Ab Iorwerth.

For all urban centers with 10,000 inhabitants or more, housing starts amounted to 195,987 in the collective housing segment and 58,384 in the single-family housing segment, down 0.3% and 2.3%.

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