The total monthly seasonally adjusted annual rate (SAAR) of housing starts for all areas in Canada increased 16% in July (279,509 units) compared to June (241,643), according to Canada Mortgage and Housing Corporation (CMHC). The six-month trend in housing starts increased 3.2% from 247,840 units in June to 255,783 units in July. The trend measure is a six-month moving average of the SAAR of total housing starts for all areas in Canada. In Canadian urban centres with a population of 10,000 or greater, there have been 132,823 actual housing starts year-to-date (January – July) in 2024. This compares to 123,593 for the same time period in 2023, meaning actual housing starts are currently 7.5% higher in 2024. “Both the SAAR and Trend of housing starts increased in July. This was due to growth in actual year-over-year starts, driven by higher multi-unit starts, particularly in Calgary and Ottawa.” said Bob Dugan, CMHC’s Chief Economist.