Canadian Mortgage and Housing Corp said Monday the seasonally adjusted annualized rate of Canadian housing starts rose to 218,333, or 17 per cent, in June from a revised 186,709 in May.
Canada Housing Starts
ย Housing starts in Toronto totalled an annualized 45,848 in June, the highest since March, said CMHC. Vancouver re– corded a pace of 35,445 units in June, the second highest pace in the past 16 years.
That more than offset declines in the Atlantic provinces and Quebec.
The increase came as the pace of urban starts increased by 18.1 per cent in the month to 202,702 units, boosted by multiple urban starts, which gained 26.7 per cent to 142,819. Single-detached urban starts increased by 1.7 per cent to 59,883.
Rural starts were estimated at a seasonally adjusted annual rate of 15,631 units.
The six-month moving average of the monthly seasonally adjusted annual rate increased to 197,918 in June compared with 190,302 in May.
The national pace of housing starts looked to be settling in around 200,000, up from the rate in recent years.