(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

Clearview Public Schools has honoured Cindy Zimmermann as the recipient of the 2020 Clearview Star Award

Zimmerman has also gone with Teachers Across Borders to share her talents for a semester in Vietnam

Library column: October is only a few days away!

Culture Days will be back next September, so keep watch for future announcements

Stettler Food Bank in solid shape thanks to community support

A hike in demand is expected in the coming months

UPDATED: Red Deer has nine active COVID-19 cases

Number of cases increased by 107 Friday

Man sentenced to 7 years for gas-and-dash death of Alberta gas station owner

Ki Yun Jo was killed after Mitchell Sydlowski sped off in a stolen cube van without paying for $198 of fuel

QUIZ: A celebration of apples

September is the start of the apple harvest

Six injured, man in custody following BB gun incident in Alberta, RCMP say

Airdrie’s downtown core was told to shelter-in-place, while others nearby were asked to stay inside

Nearly 20 per cent of COVID-19 infections among health-care workers by late July

WHO acknowledged the possibility that COVID-19 might be spread in the air under certain conditions

Wetaskiwin RCMP make arrests for Hit and Run to residence

Damage estimates are expected to be in excess of $20,000.

Young Canadians have curtailed vaping during pandemic, survey finds

The survey funded by Heart & Stroke also found the decrease in vaping frequency is most notable in British Columbia and Ontario

“My world exploded,” says Bentley-area farmer who’s swather was struck by a motorist

Dennis Duncan was a mile from home when his swather was struck by another travelling at high speeds

Local feral cat rescue looking for support

Bottle drive being held in Bashaw

UPDATE: Last kidnapping suspect arrested

Amber Knickle has been arrested and remains in police custody

Most Read