Canada’s seasonally adjusted annual rate of housing starts fell to 229,074 units in July, missing expectations of about 250,000 and marking a 4.9% decline from June, according to Canada Mortgage and Housing Corp. The pullback extended the prior month’s slowdown and reflected fewer new projects in Toronto and other major cities. The softer construction data came even as housing completions increased and the resale market showed some signs of life, highlighting a housing sector that remains uneven under the weight of borrowing costs and affordability pressures. Housing starts are closely watched because they signal builder confidence and the future supply pipeline, particularly in large urban markets where shortages have been most acute.