Technology Annual pace of housing starts jumps higher

16:28  10 july  2018
16:28  10 july  2018 Source:

Home sales inch higher in June, but average prices still down 1.3% in past year

  Home sales inch higher in June, but average prices still down 1.3% in past year Home sales increased last month for the first time this year, but average selling prices are still slightly lower than they were a year ago. The Canadian Real Estate Association said Monday that there were 4.1 per cent more homes sold in June than there were in May. That's the first time in 2018 that sales have increased from month to month, as the market continues to digest new mortgage "stress test" rules implemented at the start of the year.While the pace of home selling picked up on a monthly basis, it was the slowest June for home selling in five years.

Seasonally adjusted annual rate of housing starts for March came in at 253,720 units. A jump of more than 30 per cent in starts of urban multiple units helped March's annualized pace of overall starts surpass economists' expectations (David Horemans/CBC).

The jump in groundbreaking on single-family housing units suggests housing could contribute to Overall housing starts increased 3.3 percent to a seasonally adjusted annual rate of 1.297 million While that was the highest level since October 2016, October’s sales pace was revised down to

a view of a city © Provided by OTTAWA - Canada Mortgage and Housing Corp. says the annual pace of home building increased in June, boosted by a jump in multi-unit projects.

The federal housing agency says the seasonally adjusted annual rate of housing starts increased to 248,138 units in June, up from 193,902 in May.

The increase came as the seasonally adjusted annual rate of urban starts climbed 29.9 per cent in June to 228,844.

Multiple urban starts increased 46.4 per cent to 172,845, while single-detached urban starts fell 3.5 per cent to 55,999 units.

Rural starts were estimated at a seasonally adjusted annual rate of 19,294 units.

The six-month moving average of the monthly seasonally adjusted annual rates was 222,041 in June, up from 216,701 in May.

Bank of Canada raises rates .
Bank of Canada Governor Stephen Poloz brushed aside concerns about trade wars and pressed ahead with afresh interest rate increase as inflation hovers at its highestin seven years.The Ottawa-based central bank raised its overnightbenchmark rate by a quarter point to 1.5 percent on Wednesday,the second hike this year and fourth over the past 12 months.The statement didn't introduce any new “dovish” language, withofficials only reiterating that rates will need to rise further,albeit gradually, to keep price pressures in check.

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