Canada’s housing starts jumped to the highest level in nearly three years as construction on apartments, townhouses and condominiums in the country’s largest and easternmost provinces continued to rise.
Builders started work on a seasonally adjusted 294,100 annualized units in July, according to dataBloomberg Terminal released Monday by the Canada Mortgage and Housing Corp. That’s the highest level since September 2022, and above any economist estimate in a Bloomberg survey. Starts rose 3.7% from the previous month.