--Starts Up From Revised 196,981 May Units (Was 201,705)
--Six-Month Trend 183,959 vs May 179,908; Q2 192,766 vs Q1 176,535
OTTAWA (MNI) - Canada's housing construction rose to a seasonally adjusted
pace of 202,818 units in June, well above market expectations, from a downwardly
revised 196,981 in May (was 202,818 units), exhibiting continuing housing start
volatility in the country.
Canada Mortgage and Housing Corporation statistics reported Thursday showed
the strong starts were driven by a 45% surge in starts from May in British
Columbia and large 27% increases in Quebec and the three Prairie Provinces.
Ontario, on the other hand, where the Toronto metropolitan area has long been a
major upward force for housing activity, saw starts fall by 30.1% on the mo