Construction activity in Ontario is near its highest level in 20 years, Bank of Montreal said Wednesday. (Graeme Roy/Canadian Press)The pace of new home construction sped up for the seventh month in a row in July, to an annualized rate of 217,550 new units. The Canada Mortgage and Housing Corporation said Wednesday that British Columbia and Alberta were the two biggest contributors to the ramping up. On a national level, most of the gains came from multiple units buildings such as condos, which increased by more than nine per cent to a pace of almost 230,000 units in the month. Construction of single family homes, meanwhile, declined by about four per cent to an annual pace of 77,000 units.

Source: CBC News August 09, 2017 13:07 UTC