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CANADA DATA: July Housing Starts +16% MOM to 279.5K led by multis

CANADA DATA
  • Canada seasonally adjusted starts +16% MOM to 279,509 units after -9.7% in June
  • 6M moving average +3% in July to 255,783 units, after -0.4% last month
  • Starts in urban areas +10% YOY as multi-unit starts up 11% and single-detached starts rose +8%
  • As the national housing shortage continues, developers remain focused on multi-unit construction in Canada’s major centres.” said Bob Dugan, CMHC’s Chief Economist.

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