TORONTO (Reuters) – Canadian housing starts rose 41% in June compared with the previous month, the largest increase in the last 10 years, led by groundbreaking on multiple unit urban homes, data from the national housing agency showed on Tuesday.
The seasonally adjusted annualized rate of housing starts rose to 281,373 units in June from a revised 200,018 units in May, the Canadian Mortgage and Housing Corporation (CMHC) said.
Economists in a Reuters poll had expected starts to increase to 220,000 in June.
(Reporting by Fergal Smith; Editing by Andrew Heavens)