Canada Mortgage and Housing Corp. said the annual rate of housing starting in July was higher than in June, although the pace began to slow in urban areas.
The housing authority said the seasonally adjusted annual housing rate starting July was 275,329 units, up 1.1 percent from June.
The annual urban start-up rate fell 0.8% to 254,371 units in July, while the multi-unit urban start-up rate fell 0.3% to 195,987 units.
The start-up rate of the single-family town fell by 2.3% to 58,384 units.
Meanwhile, rural start is estimated at a seasonally adjusted annual rate of 20,958 units.
The monthly seasonally adjusted annual price’s six-month moving average was 264,426 units in July, up from 257,862 in June.
This report by the Canadian Press was first published on August 16, 2022.