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August Housing Starts -1% MOM

CANADA DATA
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income NewsForeign Exchange News
  • Seasonally adjusted starts -1% to 252,787 units after -10% MOM in July.
  • 6M moving average +0.8% in August from +2.8% in July.
  • Vancouver SAAR starts -12% and Toronto -20%, Montreal +41%.
  • CHMC reiterated most starts financed before June and July's interest rate hikes "so the full effect of higher interest rates on construction activity remains to be seen".
  • CMHC said last week an extra 3.5m units needed in next decade to restore housing affordability; govt has faced pressure to respond.
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  • Seasonally adjusted starts -1% to 252,787 units after -10% MOM in July.
  • 6M moving average +0.8% in August from +2.8% in July.
  • Vancouver SAAR starts -12% and Toronto -20%, Montreal +41%.
  • CHMC reiterated most starts financed before June and July's interest rate hikes "so the full effect of higher interest rates on construction activity remains to be seen".
  • CMHC said last week an extra 3.5m units needed in next decade to restore housing affordability; govt has faced pressure to respond.