{"id":22561,"date":"2023-09-12T10:10:00","date_gmt":"2023-09-12T17:10:00","guid":{"rendered":"https:\/\/www.roryc.ca\/blog\/?p=22561"},"modified":"2023-08-29T09:46:26","modified_gmt":"2023-08-29T16:46:26","slug":"cmhc-the-housing-starts-increased-for-the-2nd-consecutive-month","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2023\/09\/cmhc-the-housing-starts-increased-for-the-2nd-consecutive-month\/","title":{"rendered":"CMHC The Housing Starts Increased for The 2nd Consecutive Month"},"content":{"rendered":"

The housing starts trendline in Canada increased for the second consecutive month in July, according to the Canada Mortgage and Housing Corporation (CMHC).<\/p>\n

July saw a healthy number of actual starts (242,525 units), up 2.8% from 235,819 units in June. The trend measure is a six-month moving average for the monthly SAAR of total housing starts across the nation.<\/p>\n

The standalone monthly seasonally adjusted annual rate (SAAR) of total housing starts across Canada in July decreased by 10% compared to June, which was the strongest month so far this year. Total urban starts decreased by 11% (234,857 units), and multi-unit urban starts decreased by 12% (193,446 units).<\/p>\n

However, despite the monthly drop, total SAAR housing starts for all areas in Canada was 7.4% above the five-year average.<\/p>\n

\u201cDespite a decrease in the SAAR of housing starts relative to last month, July saw a healthy number of actual housing starts from a historical perspective,\u201d Bob Dugan, CMHC\u2019s chief economist said. \u201cThis pushed the trend of housing starts upward for the second consecutive month.\u201d<\/p>\n

\u201cMarket intelligence suggests multi-unit projects started in June and July were likely financed a few months prior, so, the effect of the most recent interest rate hikes on housing starts remains to be seen.\u201d<\/p>\n

Vancouver and Toronto saw total SAAR housing starts decrease by 23% and 29% respectively in July. Though these decreases were offset by increases in Montreal (12%), Calgary (33%), and Edmonton (67%). Rural starts monthly SAAR estimate was 20,109 units.<\/p>\n

Click here<\/a> to view the full report.<\/p>\n

Housing Atarts Trendline Increases in July, Though Effects of Mortgage Rate Hikes Remain to Be Seen<\/a> by Cassie Appearloo | Livabl<\/p>\n","protected":false},"excerpt":{"rendered":"

The housing starts trendline in Canada increased for the second consecutive month in July, according to the Canada Mortgage and Housing Corporation (CMHC). July saw a healthy number of actual … [read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-22561","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"\nCMHC The Housing Starts Increased for The 2nd Consecutive Month • Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2023\/09\/cmhc-the-housing-starts-increased-for-the-2nd-consecutive-month\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CMHC The Housing Starts Increased for The 2nd Consecutive Month • Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"The housing starts trendline in Canada increased for the second consecutive month in July, according to the Canada Mortgage and Housing Corporation (CMHC). 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