Economic Indicators

Canadian housing starts rise 1.1% in July -CMHC

08/16/2022

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2022.08.16 16:06

Canadian housing starts rise 1.1% in July -CMHC
A home for sale on Emerald Street in Hamilton Ontario, Canada May 6, 2022. REUTERS/Carlos Osorio/File Photo

TORONTO (Reuters) – Canadian housing starts surprisingly rose in July compared with the previous month, data from the national housing agency showed on Tuesday.

The seasonally adjusted annualized rate of housing starts rose 1.1% to 275,329 units from a revised 272,381 units in June, Canadian Mortgage and Housing Corporation (CMHC) data showed. Analysts had forecasts starts would dip to 262,100.

08/16/2022

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