Canadian Housing Starts Dip in November

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in November was 264,159 units, 0.2% lower than in October. The SAAR of urban starts was unchanged from October at 242,644. Multiple urban starts rose 2% to 190,415, and single-family levels dipped 7% from October to 52,229. The trend in housing starts in November fell 1% to 274,361.

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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