Canada housing construction slows as builders pull back amid weak demand

Canada Mortgage and Housing Corp. reported that housing starts fell 2.8% in June, bringing the seasonally adjusted annual rate to 248,123 units. The monthly pace slipped 6% to 239,971 units, while starts in centres with populations of 10,000 or more dropped 13% year‑over‑year. Economists expect residential construction to stay subdued for the remainder of the year despite modest improvements in home sales and recent government measures to spur new‑home demand.