April Canadian Housing Starts Improve

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in April was 261,559 units, 22.3% higher than March. The SAAR of urban starts increased 25.6% from March to 241,585. Multiple urban starts rose 33% to 201,621, while single-family levels fell 1.8% from March to 39,964. The trend in housing starts in April dipped 0.2% to 240,403.

The Canada Mortgage and Housing Corporation (CMHC) uses the six-month trend measure “as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of Canada’s housing market.”  See CMHC

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