The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in August was 245,791 units, down 16.3% from the prior month. The SAAR of urban starts decreased 17.8% from July to 223,728, and multiple urban starts fell 20.3% to 183,408. Single-family levels were 40,320, 4.2% below the prior month. The six-month trend in housing starts rose 1.6% to 267,259 units in August.
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