Housing starts rise in August

OTTAWA — Canadian housing starts in August were at a seasonally adjusted annual rate of 262,396 units, according to the Canada Mortgage and Housing Corp., an increase of 6.9 percent from 245,425 units in July. The SAAR of urban starts increased by 7.1 percent in August to 248,154 units. Multiple urban starts increased by 9.1 percent to 201,214 units in August while single-detached urban starts decreased by one percent to 46,940 units. Rural starts were estimated at a seasonally adjusted annual rate of 14,242 units.