CMHC reports annual pace of housing starts down 1% in August#CMHC #reports #annual #pace #housing #starts #August

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OTTAWA — Canada Mortgage and Housing Corp. says the annual pace of housing starts in Canada edged down one per cent in August compared with July.

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The national housing agency says the seasonally adjusted annual rate of housing starts in August came in at 252,787 units compared with 255,232 in July.

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The decrease came as the rate of urban housing starts fell one per cent to 233,075 units in August.

The pace of multi-unit urban starts decreased one per cent to 191,250, while the rate of single-detached urban starts rose two per cent to 41,825.

The annual rate of rural starts was estimated at 19,712.

The six-month moving average of the overall monthly seasonally adjusted annual rate of housing starts was 244,507 units in August, up 0.8 per cent from 242,552 in July.