Housing starts up slightly in June: CMHC

“Housing starts increased in June due to an increase in single and multiple starts in Ontario,” Dugan said in a statement released today. “The revised numbers show that housing starts have been above their trend line since March. However, we expect housing starts to move back towards levels consistent with demographic fundamentals in the near term.”

Overall, urban starts increased by 2.2%, year-over-year, to a seasonally adjusted rate of 174,600 units in June, but multiple urban starts dropped by 3.1% to 103,700.

The rate of housing starts rose the most in Ontario, which saw a 24.1% increase, followed by Atlantic Canada, which saw 5.6% increase.

British Columbia, by contrast, saw a major decline, plummeting 27.6% year-over-year.

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