(The Canadian Press)

CMHC reports annual pace of housing starts climbed nearly 16% in July

Economists on average had expected an annual rate of 210,000

Canada Mortgage and Housing Corp. says the annual pace of housing starts in July rose nearly 16 per cent compared with June.

The housing agency says the seasonally adjusted annual rate of housing starts rose to 245,604 in July, up from 212,095 in June.

Economists on average had expected an annual rate of 210,000, according to financial markets data firm Refinitiv.

The increase came as urban starts of apartments, condos and other types of multiple-unit housing projects rose 18.8 per cent to 184,431 in July while single-detached urban starts climbed 12.3 per cent to 47,564.

Rural starts were estimated at a seasonally adjusted annual rate of 13,609 units for July.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts rose to 204,376 in July, up from 199,778 in June.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Oak Bay couple honoured for 35 years volunteering

Mayor awards distinguished Oak Leaf to Bert and Doris Dinsmore

Hospital foundation president praises generosity of Peninsula residents

Karen Morgan said support during COVID-19, financial and otherwise, has been touching

Meet the Liberal candidate for Oak Bay-Gordon Head

Roxanne Helme about ‘governance, not politics’

New Democrats on Saanich Peninsula still looking to announce candidate

While BC Liberals have nominated Stephen Roberts, New Democrats have not yet announced candidate

Sidney’s Cascadia Seaweed hopes to float to the top of a growing industry

Food products based on seaweed could hit local shelves in spring 2021

QUIZ: Do you know what’s on TV?

Fall is normally the time when new television shows are released

POLL: Do you agree with the decision to call a provincial election for Oct. 24?

British Columbians will put their social distancing skills to the test when… Continue reading

Canadian ski resorts wrestle with pandemic-vs.-profit dilemma as COVID-19 persists

Few are actually restricting the total number of skiers they allow on the hill

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

A (virtual) walk around the world by 88-year-old B.C. man

George Doi says it’s simple: ‘I like walking’

End of CERB means uncertainty for some, new system for others

As of a week ago, the CERB had paid out $79.3 billion to 8.8 million people

Horgan, Wilkinson trade barbs over MSP premiums, health care at campaign stops

Horgan called a snap election for Oct. 24 earlier this week

Most Read