{"id":19678,"date":"2023-07-18T13:48:53","date_gmt":"2023-07-18T20:48:53","guid":{"rendered":"https:\/\/essential.construction\/news\/cmhc-says-rate-of-housing-starts-posts-largest-month-to-month-increase-in-a-decade\/"},"modified":"2023-07-18T13:48:54","modified_gmt":"2023-07-18T20:48:54","slug":"cmhc-says-rate-of-housing-starts-posts-largest-month-to-month-increase-in-a-decade","status":"publish","type":"post","link":"https:\/\/essential.construction\/news\/cmhc-says-rate-of-housing-starts-posts-largest-month-to-month-increase-in-a-decade\/","title":{"rendered":"CMHC says rate of housing starts posts largest month to month increase in a decade"},"content":{"rendered":"

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July 18, 2023 \u2013 Canada Mortgage and Housing Corp. says the annual pace of housing starts in June posted its largest month-over-month increase in a decade powered by work beginning on new multi-unit projects.<\/p>\n

The national housing agency says the seasonally adjusted annual rate of housing starts in Canada totalled 281,373 units in June, up from 200,018 in May.<\/p>\n

The increase came as the annual pace of urban starts increased 46 per cent to 262,815 units in June. The rate of multi-unit urban starts rose 59 per cent to 219,914, while the rate of starts for single-detached urban homes increased three per cent to 42,901.<\/p>\n

The annual rate of housing starts in Vancouver in June was up 71 per cent from May, while Toronto doubled the pace set in the previous month.<\/p>\n

CMHC\u00a0estimated the annual pace of rural starts at 18,558 units for June.<\/p>\n

The six-month moving average of the annual pace of housing starts was 234,974 units in June, up from 229,520 units in May.<\/p>\n

This report by The Canadian Press was first published July 18, 2023.<\/em><\/p>\n<\/p><\/div>\n