The April monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in all areas was 279,317 units, 16.6% above March. The SAAR of urban starts increased 3.3% from the prior month to 244,202, while multi-unit totals grew 4.4% to 204,542 in April. Single-family levels were 39,660, 1.9% lower than March. The six-month trend in housing starts rose 3.2% to 256,777 in April.
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 CHMC