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Canadian Housing Starts Increased in July
The trend in housing starts was 204,376 units in July 2020, up from 199,778 units in June 2020, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. “The national trend in housing starts increased for a second month in July,” said Bob Dugan, CMHC's chief economist. “Higher multi-family starts in major urban areas, including Toronto, Vancouver and oil-producing centres in the Prairies drove the national increase. Following declines in previous months from COVID-19 measures, higher ... (full story)