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MNI DATA BRIEF: Canada July Housing Starts Fall For 2nd Month

OTTAWA (MNI)

Canadian housing starts fell for a second consecutive month in July, although the six-month trend remained near a record high, the federal housing agency reported Tuesday.

Starts fell 3.2% to 272,176 units at an annualized pace from a revised 281,200 in June. Economists predicted a pace of 279,000 units. The figures mesh with MNI reporting that policy makers will let the market cool without strong intervention even amid the BOC's concern about indebted households. (See: Canada Seen Letting Half-Century Home Boom Ride)

Source: CMHC

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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