Actual housing starts were markedly lower in two of Canada's three major cities compared with June 2023
More buyers are expected to enter the market as borrowing costs begin to decrease
Total owed is up 3.4% year over year, representing slowest growth in 23 years
The seasonally adjusted annual rate of housing starts in Canada came in at 240,229 units for April, a drop of 1% from March
Despite month-over-month decline in March, housing starts trending 'at a solid pace': economist
Declining mortgage rates, strong population growth will help spur a rebound in sales and prices
CMHC says construction of new homes in Canada's six largest cities remained near all-time highs last year
The supply picture has improved somewhat in Ontario, but has worsened in other provinces like Quebec, Alberta, and British Columbia
The first $500 top-up was rolled out just before Christmas and distributed $402 million
Seasonally adjusted count of new starts comes in at 254,966 units in July, compared with 283,498 in June