The seasonally adjusted rate of Canadian housing starts rose to 241,500 in August, up from 218,600 in July, according to Canada Mortgage and Housing Corp."Nationally the housing market continues to benefit from positive economic factors," said Bob Dugan, chief economist at Canada Mortgage and Housing. "Strong consumer confidence and continued growth in employment combined with low mortgage rates continue to support a buoyant new housing market. High activity in the resale market also confirms that demand for homeownership remains strong while creating spillover demand in the new-home market." CMHC can be found on the Web at http://www.cmhc.ca.
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