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- Canadian housing starts increased in June
Canadian housing starts increased in June
The standalone monthly SAAR for all areas in Canada was 218,333 units in June, up from 186,709 units in May. The SAAR of urban starts increased by 18.1 per cent in June to 202,702 units. Multiple urban starts increased by 26.7 per cent to 142,819 units in June and the single-detached urban starts increased by 1.7 per cent to 59,883 units.
In June, the seasonally adjusted annual rate of urban starts increased in British Columbia, Ontario, and in the Prairies, but decreased in Atlantic Canada, and Québec.
Rural starts were estimated at a seasonally adjusted annual rate of 15,631 units.
"Overall, June saw housing starts pick up pace in Canada, bolstered by apartment construction in Ontario - especially new condo construction in Toronto's downtown core," said Bob Dugan, CMHC Chief Economist. "However, elsewhere in the country, construction activity slowed as apartment construction eased in Quebec. Housing starts are also trending down in Alberta as a result of high inventories in the new and existing home markets of that province."
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