CMHC reports annual pace of housing starts up 1.1 per cent in July
The Canadian Press
Published Tuesday, August 16, 2022 9:02AM EDT
Last Updated Tuesday, August 16, 2022 9:02AM EDT
Canada Mortgage and Housing Corp. says the annual pace of housing starts in July edged higher compared with June despite a slowdown in urban starts.
The housing agency says the seasonally adjusted annual rate of housing starts in July was 275,329 units, an increase of 1.1 per cent from June.
The annual rate of urban starts was down 0.8 per cent at 254,371 units in July, while multi-unit urban starts fell 0.3 per cent to 195,987 units.
The pace of single-detached urban starts dropped 2.3 per cent to 58,384 units.
Meanwhile, rural starts were estimated at a seasonally adjusted annual rate of 20,958 units.
The six-month moving average of the monthly seasonally adjusted annual rates was 264,426 units in July, up from 257,862 in June.
This report by The Canadian Press was first published Aug. 16, 2022.