Housing starts tilt up in July

OTTAWA — The standalone monthly SAAR of housing starts in Canada was 200,098 units in July, a slight increase from 198,665 in June, according to the Canada Mortgage and Housing Corp. The SAAR of urban starts was essentially stable at 182,932 units. Multiple urban starts in July decreased to 115,870 units while the single-detached urban starts segment increased to 67,062 units. In July, the seasonally adjusted annual rate of urban starts increased in Atlantic Canada and Ontario, and decreased in the Prairies. Modest decreases were also observed in British Columbia and Quebec.