- Prior was 245.8K (revised to 244.5K)
- Starts up 19% y/y
- Year-to-date starts up 5% y/y
The CMHC noted significantly higher starts in MOntreal and Toronto, primarily due to increased rental apartment starts.
The note from CMHC deputy chief economist Tania Bourassa-Ochoa is worth repeating "While these results indicate some resilience, it is worth noting that the current housing starts levels are generally reflective of decisions made months ore even years ago when investor confidence was higher than it is today."
