Canadian housing starts trend increased in July

"The trend in housing starts was 217,550 units in July 2017, compared to 215,175 units in June 2017", Canada Mortgage and Housing Corporation (CMHC) announced on Wednesday.

Key highlights:

• This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
• In July, Canada’s pace in housing construction ramped up for a seventh consecutive month
• British Columbia and Alberta were the main contributors to the higher trend in housing starts
• On a yearly basis, housing starts increased by 222,324 units in July