Jul
11
Canada Housing Starts Surge as Rising Prices Spur Building
ByA surge in prices for existing homes in Vancouver and Toronto is fueling new construction in Canada’s two most expensive cities.
Housing starts jumped to an annualized pace of 218,333 units in June, the Canada Mortgage & Housing Corp. said Monday, the highest since September and a 17 percent increase from a month earlier.
The data suggest builders are responding to a pick-up in prices in Vancouver and Toronto, while scaling back in markets that are less robust like Montreal, which saw a drop in starts. Toronto and Vancouver accounted for 37 percent of new construction in June…
Canada Housing Starts Surge as Rising Prices Spur Building
