Housing starts rise in July

OTTAWA — The seasonally adjusted annual rate of housing starts was 245,604 units in July, according to the Canada Mortgage and Housing Corp., an increase of 15.8 percent from 212,095 units in June. The SAAR of urban starts rose by 17.4 percent in July to 231,995 units. Multiple urban starts increased by 18.8 percent to 184,431 units in July while single-detached urban starts increased by 12.3 percent to 47,564 units. Rural starts were estimated at a seasonally adjusted annual rate of 13,609 units.