Canadian Housing Starts Decline Month-Over-Month in August

Canada Mortgage and Housing Corp (CMHC) reported on Wednesday (9-15-21) that the annual pace of housing starts in Canada in August slowed when compared with July, as the rate of new home construction continued to decline from their highs earlier in the year. According to the CMHC, the seasonally adjusted annual rate of housing starts was 260,239 units in August, down from 270,744 in July.

The pace slowed as the annual rate of urban starts fell -4.7% in August to 235,782. The annual rate of urban starts for apartments, condos, and other types of multiple-unit housing projects dropped -5.7% to 173,120, while the rate of single-detached urban starts fell -2% to 62,662.

CMHC estimated rural starts at a seasonally adjusted annual rate of 24,457.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 283,971 in August, down from 286,076 in July.


FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Original Source:
CMHC says annual pace of housing starts slowed in August