The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in January was 223,589 units, 10.2% lower than December 2023. The SAAR of urban starts in January shrank 11.3% from the previous month to 208,119. Multiple urban starts fell 13.8% to 164,789, while single-family levels rose 0.08% from December to 43,330. The six-month trend in housing starts decreased 2.0% to 244,827 in January.
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
