Canada: Housing Starts Continued to Rise in July

Growth in Canadian housing starts showed no signs of easing, rising 4% in July to 205,100 units (from a downwardly revised 196,600 in June). All the gains were in multi-family construction (up 13% to 120,200), while single-family home starts gave back some of the prior month’s gains, dropping 7.8% to 65,000.

On a regional basis, urban British Columbia starts rose the most, although that didn’t make up for the province’s steep drop in starts in the prior month; while Ontario and the Atlantic provinces also registered gains. Québec starts fell for the third time in four months, although the tally of 45,600 remains close to the five-year average. (More on Canadian housing starts . . . )