OTTAWA, Ontario – Housing starts in Canada increased 2.3 percent in July compared to June, according to the Canada Mortgage and Housing Corporation (CMHC). The six-month moving average based on seasonally adjusted annual rates grew from 199,778 units in June to 204,376 units in July.
"The national trend in housing starts increased for a second month in July," said Bob Dugan, CMHC's chief economist. "Higher multi-family starts in major urban areas, including Toronto, Vancouver and oil-producing centres in the Prairies drove the national increase. Following declines in previous months from COVID-19 measures, higher activity in June and July leaves the trend in housing starts in line with the long-run average level of housing starts. We expect national starts to trend lower in the near term as a result of the negative impact of COVID-19 on economic and housing indicators."
The CMHC offers a detailed report on housing starts broken down on provincial and municipal levels.
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