CMHC reports annual rate of housing starts in August down from July

housing starts

Canada Mortgage and Housing Corp. says the annual pace of housing starts in August slowed compared with July.

The national housing agency says the seasonally adjusted annual rate of housing starts in August was 267,443 units, down three per cent from 275,158 in July.

The decrease came as the annual pace of urban starts fell three per cent to 246,771 in August with the rate of multi-unit urban starts down four per cent at 187,602.

Urban starts of single-detached homes rose one per cent to 59,169 units.

Meanwhile, rural starts were estimated at a seasonally adjusted annual rate of 20,672 units.

The six-month moving average of the overall monthly seasonally adjusted annual rate was 267,309 units in August, up from 264,467 units in July.