Housing starts decline in July

The seasonally adjusted annual rate of housing starts was 272,176 units in July, the Canada Mortgage and Housing Corp. reports. That was a decrease of 3.2 percent from 281,200 units in June. The SAAR of urban starts decreased by 0.65 percent to 249,001 units. Multiple urban starts decreased by 3.1 percent to 184,759 units in July. Single-detached urban starts increased by 7.1 percent to 64,242 units.