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Aug Home Starts Highest Since 2007

CANADA DATA
(MNI) OTTAWA
  • Starts +6.9% to 262,396 units at annualized pace
  • The 6M moving average also rises for 3rd month, to 213,144 from 204,597
  • Housing has shown strength through pandemic, continuing trend before Covid-19 on a mix of good fundamentals like rising population, and other signs of overheating in Toronto/Vancouver
  • Canada Mortgage and Housing Corp. says it still expects starts to slow later this year as Covid hits economy
  • August annualized pace highest since Sept 2007 at 288,644
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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