Housing construction begins in Canada in July

Published on 08/16/2022 at 09:36

Their number stood at 275,329 last month, up 1.1% from June, according to the national housing agency. (Photo: The Canadian Press)

According to the Canada Mortgage and Housing Corporation (CMHC), national housing starts accelerated in July through June.

According to the national housing agency, their number last month was 275,329, up 1.1% from June, according to monthly seasonally adjusted annualized (SDA) data.

“Trend and monthly DDAs increased nationwide in July compared to June as housing starts levels in Canada remain historically high, well above 200,000 since 2020,” Aled Ab Iorwerth, chief economist at CMHC, said in a press release.

In Quebec, the increase is 12% for a total of 52,809 housing starts.

CMHC reports that the pace has still slowed in urban centers due to a slowdown in single-family home construction.

“In the Vancouver and Toronto markets, both the multi-family and single-family housing segments saw a decline in housing starts, but the decline was much more pronounced in the first segment than the second, while Montreal’s two segments have a similar one experienced a decline in activity,” says Aled Ab Iorwerth.

For all metropolitan areas with 10,000 residents or more, housing starts were 195,987 in the collective housing segment and 58,384 in the single-family housing segment, down 0.3% and 2.3%, respectively.

Darren Pena

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