August Canadian Housing Starts Moving-Average Down

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in August was 267,443 units, 2.8% lower than July. The SAAR of urban starts dropped 2.9% from July to 246,771. Multiple urban starts fell 4.2% to 187,602, with single-family urban levels rising 1.4% in August to 59,169. The trend in housing starts in August increased 1.1% at 267,309 units.

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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