Annual pace of housing starts slowed in June

Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in June.

The national housing agency says the seasonally adjusted annual rate of housing starts fell 1.5% to 282,070 units in June compared with 286,296 in May.

The annual pace of urban starts fell 1.8% in June to 251,190 as the pace of starts for apartments, condos and other types of multiple-unit housing projects rose 0.6% to 191,085.

Starts of single-detached urban homes fell 8.5% to 60,105.

CMHC estimated rural starts at a seasonally adjusted annual rate of 30,880 units.

The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 293,567 in June, up from 284,837 in May.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.