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Canadian housing starts grew by 2.4% in June, a 10-year high
Posted on July 21, 2023 |
In June, Canada's housing starts grew by 2.4% to 234,974 units, up from 229,520 units in May, reversing the low trend in housing starts in the last few months.
For all Canadian regions, the month-wise Seasonally Adjusted Annual Rate (SAAR) of total housing starts grew by 41% to 281,373 units, compared to May’s 200,018 units, the biggest monthly SAAR change in the last 10 years.
The month-wise SAAR of total urban starts grew by 46%, with 262,815 units, of which 59% were multi-unit starts.
Single-detached urban starts grew by 3% to 42,901 units and monthly rural starts were at 18,558 units.