CMHC: Housing Starts Remain Steady Despite August Dip

Canada's annual pace of housing starts slightly declined in August to 229,046 units from 229,360 in July. Monthly housing starts in urban areas dropped to 17,691 from 18,112 the previous year, while rural starts were estimated at 11,224 units. The six-month moving average of total housing starts fell 1.3% to 244,149. Modest gains in Quebec and Alberta partially offset declines, especially in Ontario.