(Ottawa) The Canada Mortgage and Housing Corporation (CMHC) announced that the annual pace of housing starts increased by 16 per cent in July compared to June.
The national housing agency said the seasonally adjusted annual rate of housing starts in Canada for July was 279,509 units, up from 241,643 in June.
The increase came as the annual pace of urban housing starts increased 17% to 261,134 units for the month.
The annual rate of urban multi-family housing starts increased 21% to 217,306 units in July, while the pace of urban single-family housing starts increased 2% to 43,828 units.
The annual rate of housing starts in rural areas was estimated at 18,375 units for the month.
CMHC reported that the six-month moving average of the seasonally adjusted annual rate of housing starts in Canada increased 3.2 per cent to 255,783 units in July from 247,840 in June.