Which Mortgage: Pace of housing starts falls by almost 10% in July

Canadian housing starts fell by 9.6% in July, led mostly by a drop in construction of row houses and apartments. The seasonally adjusted annual rate (SAAR) of housing starts dropped from 245,455 units in June to 222,013 units last month, Canada Mortgage and Housing Corporation (CMHC) reported on Friday. That still beat the median forecast of 202,000 units in a Bloomberg survey. Multiple urban starts declined by 12% to 162,722, while single-detached urban starts fell by 4.6% to 46,400 units. Meanwhile, rural starts were estimated at a SAAR of 12,891 units. Read more...


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Mississauga Real Estate Board
3450 Ridgeway Dr #1
Mississauga, ON L5L 0A2, Canada
Phone: 905.608.6732
Fax: 905.608.9988