(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

COVID-19 cases in Alberta up by 153 Wednesday

Central zone sits at 19 active cases

160 new COVID-19 cases reported in Alberta on Tuesday

Province now has 1,571 active cases

Return to class has gone better than expectation, WCPS says

Staff with Wolf Creek Public Schools say the return to in-class teaching has gone very well

PHOTOS: Eighth annual Wood Show in Lacombe

Central Alberta Wood Workers and Woodturners Guild hosted its annual show recently

No safe mask option for bearded members, RCMP says, but force is exploring solutions

RCMP says respirator not mandatory in all front-line situations, but sometimes needed to reduce risk

Health Canada green-lights rapid COVID-19 test

Health Canada approved the BCube test from Hyris Ltd. in the United Kingdom Sept. 23

Albertans the speediest behind wheel, according to national dangerous driving survey

Finder.com looks into dangerous and reckless driving habits across the country

Metis pilot Teara Fraser profiled in new DC Comics graphic novel of women heroes

The Canadian pilot’s entry is titled: ‘Teara Fraser: Helping Others Soar’

Leduc Man still missing, RCMP concerned for his well being

31-year-old Ryan Mcleod has been missing since Sept. 10, 2020.

Sylvan Lake family says they are ‘blessed’ to have found their home in Central Alberta

Onsy and Rosemary Tawadrous immigrated to Canada in 2011 and made their home in Sylvan Lake

Tractor fire east of Ponoka doused

Flames extinguished with foam additive

Wetaskiwin restaurant asks City for help with excessive property damage caused by continuous loiterers

Employees say that they are scared for themselves and their customers.

Most Read