CMHC reports annual pace of housing starts in Canada picked up in August

The six-month moving average of the monthly seasonally adjusted annual rates of housing starts rose to 213,144 in August, up from 204,597 in July.

CMHC reports annual pace of housing starts in Canada picked up in August

The increase came as the annual pace of urban starts increased 7.1 per cent in August to 248,154. The pace of urban starts of apartments, condos and other types of multiple-unit housing projects climbed 9.1 per cent to 201,214 units, while single-detached urban starts fell 1.0 per cent to 46,940.

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CMHC to get a new name as part of rebranding effort

In an interview with The Canadian Press, Evan Siddall says changing the name would better align with the corporation’s present — and its future.

CMHC to get a new name as part of rebranding effort

Federal legislation is needed for an official name change, but Siddall says that doesn’t prevent the organization from using a trade name. A new name along the lines of “Housing Canada” will be the subject of consultations with the 2,000-strong workforce at the agency.

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CMHC reports annual pace of housing starts in Canada increased in June

The federal housing agency says the seasonally adjusted annual rate of housing starts came in at 211,681 units in June, up from 195,453 in May.

CMHC reports annual pace of housing starts in Canada increased in June

The result came as urban starts of apartments, condos and other types of multiple-unit housing projects rose 13.0 per cent to 154,602 units in June, while urban starts of single-detached homes fell 4.5 per cent to 42,073.

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Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC

The report reiterated the agency’s forecast that house prices could decline anywhere from 9-18%, adding that oil-producing regions could see declines up to 25%.

Latest in Mortgage News: 2.5 Years for Home Prices to Make New Highs, Says CMHC

“Following large declines in 2020, housing starts, sales and prices are expected to start to recover by mid-2021 as pandemic containment measures are lifted and economic conditions improve,” said the housing agency’s chief economist, Bob Dugan.

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