CMHC Foresees Stable Housing Market Into Year-End

Canada's housing starts slightly declined in August, with a six-month trend down 1.3% to 244,149 units, while the monthly pace remained steady at about 229,000 units. Year-to-date starts fell 4% compared to last year. Montreal and Vancouver saw increases in housing starts, while Toronto remained flat. Homes under construction decreased slightly, and completions dropped 11.2%. Building permits approved but not started rose 0.7%.