(The Canadian Press)

(The Canadian Press)

CMHC reports annual pace of housing starts climbed nearly 16% in July

Economists on average had expected an annual rate of 210,000

Canada Mortgage and Housing Corp. says the annual pace of housing starts in July rose nearly 16 per cent compared with June.

The housing agency says the seasonally adjusted annual rate of housing starts rose to 245,604 in July, up from 212,095 in June.

Economists on average had expected an annual rate of 210,000, according to financial markets data firm Refinitiv.

The increase came as urban starts of apartments, condos and other types of multiple-unit housing projects rose 18.8 per cent to 184,431 in July while single-detached urban starts climbed 12.3 per cent to 47,564.

Rural starts were estimated at a seasonally adjusted annual rate of 13,609 units for July.

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts rose to 204,376 in July, up from 199,778 in June.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Real estate

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

(Phil McLachlan - Capital News)
UPDATE: Garage on Lakeshore Road burns to the ground, blaze deemed suspicious

Fire crews responded to the scene just after 4:30 p.m.

An empty learning space at Kelowna’s Canyon Falls Middle School prior to the school’s opening in fall 2019. (Michael Rodriguez - Capital News)
COVID-19 case confirmed at Canyon Falls Middle School

This is the first case of COVID-19 being reported at Canyon Falls Middle School

Kelowna City Hall. (Michael Rodriguez - Capital News)
Kelowna council allocates $8M provincial COVID-19 grant

$5.4 million will be applied to the city’s preliminary 2021 budget

In this handout photo provided by the Philippine Red Cross, families stay at a temporary evacuation center at Catanduanes province, eastern Philippines, Sunday, Nov. 1, 2020, as Typhoon Goni hits the country. Families living near coastal towns have moved to evacuation centers as the strong typhoon makes landfall. (Philippine Red Cross via AP)
Okanagan community group organizes fundraiser for typhoon-hit Philippines

Over two million people have been affected by flooding, with about 500,000 forced to leave homes

Masks are now officially mandatory in all City of Campbell River facilities. (Black Press File Photo)
Interior Health reports 49 new COVID-19 cases overnight

302 cases remain active; two in hospital

Provincial health officer Dr. Bonnie Henry updates B.C.’s COVID-19 situation at the B.C. legislature, Nov. 23, 2020. (B.C. government)
B.C. daily COVID-19 cases hits record 941 on Tuesday

Further restrictions on indoor exercise take effect

(Pixabay.com)
Man, 28, warned by Kootenay police to stop asking people to marry him

A woman initially reported the incident to police before they discovered others had been popped the question

Winston Blackmore (left) and James Oler (right) were sentenced on separate charges of polygamy this week in Cranbrook Supreme Court.
No more charges expected in Bountiful investigation, special prosecutor says

Special prosecutor says mandate has ended following review of evidence from Bountiful investigations

(Ashley Wadhwani/Black Press Media)
Refuse to follow B.C.’s mask mandate? Face a $230 fine

Masks are now required to be worn by all British Columbians, 12 years and older

(Ty Hainsworth / Facebook)
No injuries after fire rips through South Okanagan fruit stand

A fruit stand caught fire Tuesday afternoon, closing Highway 97 for two hours

Damien Smith, with father Thomas Smith, is “frozen” with joy as he watches a special message Deadpool star Ryan Reynolds recorded for Damien’s 9th birthday on Tuesday, Nov. 24, 2020. (Contributed)
Shuswap boy celebrates 9th birthday with family, community and Ryan Reynolds

People from around the world send birthday cards showing young Canoe resident he’s not alone

A major reconstruction project on 32nd Avenue is nearing completion and the road is now re-opened to traffic between 33rd Street and 35th Street. (City of Vernon photo)
ROAD REPORT: More roundabouts coming to North Okanagan

New intersection lights up Dec. 13, 30th Street paving delayed, PV Road completed in Vernon

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

(Ty Hainsworth / Facebook)
Highway 97 now clear following structure fire near Oliver

A fruit stand caught fire Tuesday afternoon

Most Read