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A new home under construction in Richmond Hill, Ont., is seen in this file photo. CMHC said housing starts slipped in June but the overall trend remains stable (Moe Doiron/Moe Doiron/The Globe and Mail)
A new home under construction in Richmond Hill, Ont., is seen in this file photo. CMHC said housing starts slipped in June but the overall trend remains stable (Moe Doiron/Moe Doiron/The Globe and Mail)

Housing starts slip, trend still stable: CMHC Add to ...

Canada Mortgage and Housing Corp. says the annual rate of housing starts slipped slightly in June, although it says the overall trend remained essentially stable for a third straight month.

The federal agency estimates there were 18,215 actual starts in June which, extrapolated over 12 months, gives a seasonally adjusted annual rate of 199,586 starts.

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That was down from an annual rate of 204,616 starts in May.

The agency says the annual rate of urban starts decreased by 2.7 per cent in June to 177,085 units, as both single and multiple urban starts declined.

Single urban starts decreased by 4.1 per cent to 62,743 units on an annual basis in June while the multiple urban starts segment decreased by 2.0 per cent to 114,342 units.

June’s seasonally adjusted annual rate of urban starts increased in British Columbia and decreased in all other regions, including Atlantic Canada, Ontario, Quebec and the Prairies.

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