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Annual Housing Starts Rate Decreases in July

Alyssa Furtado

The number of Canadian housing starts has suffered another drop in July, while the average cost of housing has been steadily increasing. However, expectations were exceeded in housing resale market in Canada, as the construction of new homes declined slower than originally estimated, creating more opportunities to invest. The CMHC found that 189 200 new homes were constructed during July, which although represents a 1.6% decrease, is well above the expected 185 000 new starts.

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