Hous­ing agency says home con­struc­tion picked up in July

The Guardian (Charlottetown) - - BUSINESS -

OTTAWA - The fed­eral hous­ing agency says home con­struc­tion picked up last month.

Canada Mort­gage and Hous­ing Corp. says the sea­son­ally ad­justed an­nual rate of hous­ing starts in­creased to 222,324 units in July, up from 212,948 in June.

The an­nual pace of ur­ban home con­struc­tion in­creased by 5.5 per cent to 206,122 units, driven by a rise in mul­ti­ple ur­ban starts - gen­er­ally apart­ment build­ings, town­houses and con­do­mini­ums while sin­gle, de­tached home starts slowed. Mul­ti­ple ur­ban starts in­creased by 10.4 per cent to 141,950 while sin­glede­tached ur­ban starts fell by 3.9 per cent to 64,172. Ru­ral starts were es­ti­mated at a sea­son­ally ad­justed an­nual rate of 16,202 units. The six-month mov­ing av­er­age of the monthly sea­son­ally ad­justed an­nual rates in­creased to 217,550 in July com­pared with 215,175 in June.

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