July 10, 2018 / 12:34 PM / a month ago

Canada housing starts surge in June as multiples jump - CMHC

OTTAWA, July 10 (Reuters) - Canadian housing starts surged in June as groundbreaking on multiple unit urban homes jumped 46.4 percent, offsetting a small decline in single detached urban starts, data from the Canada Mortgage and Housing Corporation showed on Tuesday.

The seasonally adjusted annual rate of starts rose to 248,138 in June from May’s downwardly revised 193,902. Economists had forecast starts would rise to 210,000 homes. (Reporting by Andrea Hopkins)

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