Housing starts decline in July

OTTAWA ― The seasonally adjusted annual rate of housing starts in July was 206,314 units, down from 246,200 units in June, the Canada Mortgage & Housing Corp. reports. The SAAR of urban starts decreased by 16.2% in July to 190,093 units. Multiple urban starts decreased by 20.3% to 136,231 units in July while single-detached urban starts decreased by 3.6% to 53,862 units. Rural starts were estimated at a seasonally adjusted annual rate of 16,221 units.