Canadian June housing starts from the CMHC
- Prior was 194.6K
- Multiple urban starts +9.4%
- Single urban starts +10.1%
- Full report
These numbers were released a few minutes early. I don't see the jump in starts as a big surprise given the run-up in prices. There are land-supply and regulatory issues in the hotspots of Canadian housing but at some point high prices conquer all.
In any case, this is another small slice of good news for the Canadian dollar, which is down slightly ahead of tomorrow's BOC meeting.
