Canadian Housing Starts Decline in December

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in December 2022 was 248,625 units, 5.5% lower than November. The SAAR of urban starts decreased 5% from November at 227,708. Multiple urban starts fell 4% to 182,850, and single-family levels dropped 11% from November to 44,858. The trend in housing starts in December dipped 1% to 273,801.

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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