Housing Slump Deepens From US to China in Risk to Global Growth
Shaky property markets across much of the world pose another risk to the global economy as higher interest rates erode household finances and threaten to exacerbate falling prices.
Jul 16, 2021
Annual pace of housing starts slowed in June: CMHC
The Canadian Press
Mortgage rates hit historic lows close to free money: Mortgage professional
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Canada Mortgage and Housing Corp. says the annual pace of housing starts slowed in June.
The national housing agency says the seasonally adjusted annual rate of housing starts fell 1.5 per cent to 282,070 units in June compared with 286,296 in May.
The annual pace of urban starts fell 1.8 per cent in June to 251,190 as the pace of starts for apartments, condos and other types of multiple-unit housing projects rose 0.6 per cent to 191,085.
Starts of single-detached urban homes fell 8.5 per cent to 60,105.
CMHC estimated rural starts at a seasonally adjusted annual rate of 30,880 units.
The six-month moving average of the monthly seasonally adjusted annual rate of housing starts was 293,567 in June, up from 284,837 in May.
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