Your monthly update on housing starts in Canada is now available.
The national trend in housing starts increased for a second month in July. The trend was 204,376 units in July 2020, up from 199,778 units in June 2020. Higher multi-family starts in major urban areas, including Toronto, Vancouver and oil-producing centres in the Prairies drove the national increase. Following declines in previous months from COVID-19 measures, higher activity in June and July leaves the trend in housing starts in line with the long-run average level of housing starts. We expect national starts to trend lower in the near term as a result of the negative impact of COVID-19 on economic and housing indicators.
Standalone Seasonally Adjusted Annual Rate (SAAR)
- The standalone monthly SAAR of housing starts for all areas in Canada was 245,604 units in July, an increase of 15.8% from 212,095 units in June.
- The SAAR of urban starts increased by 17.4% in July to 231,995 units.
- Multiple urban starts increased by 18.8% to 184,431 units in July while single-detached urban starts increased by 12.3% to 47,564 units.