Canada’s housing starts slow in July, according to data released by the Canada Mortgage and Housing Corp. (CMHC). The agency reports that the seasonally adjusted annual rate of housing starts declines by 5% from June.
The reports cite CMHC’s monthly update, describing the annualized pace of starts last month as 229,074 units. Both outlets attribute the change to month-to-month movement in CMHC’s seasonally adjusted figures, rather than to a specific policy or economic development.
While the coverage focuses on the same CMHC statistics, the outlets vary slightly in emphasis. One report highlights the year-over-year style “annual pace” figure, while the others foreground the percentage change versus the prior month, but all describe the same overall slowdown and the same reported unit rate.
