Multi-unit dwellings lead the way

  • Canadian housing starts increased by 16% in July
  • Total housing starts reached 279,509 units on a seasonally adjusted annualized basis
  • Multi-unit dwellings like condominiums drove the growth
  • Exceeded market expectations of 245,000 units
  • Trend measure increased by 3.2% to 255,783 units

Canadian housing starts experienced a significant increase in July, reaching 279,509 units on a seasonally adjusted annualized basis. This marks a 16% rise from the previous month and surpassed market expectations of 245,000 units. The growth was primarily driven by multi-unit dwellings such as condominiums. The trend measure, which is a six-month moving average of the monthly seasonally adjusted annual rate of housing starts, also increased by 3.2% to 255,783 units.

Factuality Level: 10
Factuality Justification: The article provides accurate and objective information about Canadian housing starts in July, citing specific numbers and comparing them to expectations. It also includes relevant details such as the trend measure and its increase. There is no evidence of sensationalism, redundancy, or personal perspective presented as fact.
Noise Level: 4
Noise Justification: The article provides relevant information about Canadian housing starts and their increase in July, with a comparison to market expectations. It also includes data on the trend measure. However, it lacks analysis of long-term trends or possibilities, accountability, intellectual honesty, staying on topic, evidence, actionable insights, and new knowledge.
Public Companies: Canada Mortgage and Housing Corp. (), TD Securities ()
Key People: Paul Vieira (Author)

Financial Relevance: Yes
Financial Markets Impacted: Canadian housing market and construction industry
Financial Rating Justification: The article discusses the increase in Canadian housing starts, which can impact the economy, homebuilders’ stocks, and mortgage-related businesses.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of any extreme event in the text.
Move Size: 16%
Sector: All
Direction: Up
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com