The data, released
by the Canada Mortgage and Housing Corp. (CMHC) on Wednesday, revealed that the
seasonally adjusted annual rate of housing starts came in at 283,734 units in June,
up 0.4 per cent from an upwardly revised 282,705 units (from 279,510 units) in May.
This represented the highest reading since September 2022 (295,344 units).
Economists had expected
an annual pace of 259,000 in June.
According to
the report, urban starts rose by 0.3per cent m-o-m last month to 261,705 units, reflecting a 0.8 per cent m-o-m advance in single-detached
urban starts to 42,674 and a 0.2 per cent m-o-m gain in multiple urban starts
to 219,031.
Meanwhile,
rural starts were calculated at a seasonally adjusted annual rate of 22,029 units,
up 1.2 per cent m-o-m. This marked the
highest reading since February 2024 (22,557).