According to the latest released by the Canada Mortgage and Housing Corporation, housing starts during June were trending at 185,939 units, above the 184,019 from May.
According to Bob Dugan, the chief economist for the Canada Mortgage and Housing Corporation, “The trend in housing starts has been stable since March 2014, down from the range of 191,000 to 196,000 seen between September 2013 and February 2014. This is in line with CMHC’s analysis indicating that the new home construction market in Canada is headed for a soft landing in 2014. Builders are expected to continue to manage their building activity to ensure that demand from buyers seeking a new unit is channeled toward unsold units, whether these are under construction or completed.”
Check out the full release from the Canada Mortgage and Housing Corporation here.