CMHC says housing starts rose 16% in July from June

Despite boost, figures remain below multi-decade highs in 2021, '22

The annual pace of housing starts in July climbed 16 per cent compared with June as starts of multi-unit projects shot higher for the month, Canada Mortgage and Housing Corp. says.

The National Housing Agency said Friday the seasonally adjusted annual rate of housing starts for July was 279,509 units, up from 241,643 in June. “Builders broke ground on a larger-than-expected number of units in July, with Ontario recording the best month in over a year,” TD Bank economist Maria Solovieva wrote in a report.