Canadian Housing Starts Jump to 294,000, Topping July Forecast

Canadian housing starts climbed to a seasonally adjusted annual rate of 294,085 units in July, comfortably exceeding the consensus forecast of 265,000 and marking an increase from June’s originally reported 283,700 units. One source indicated June’s figure was later revised up to 291,000. The stronger-than-expected reading points to continued momentum in residential construction despite higher borrowing costs, offering a sign of resilience in the country’s housing sector.