Canadian Housing Starts Drop in March

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in March was 246,243 units, down 2% from February. The SAAR of urban starts fell 5% from February to 220,078. Multiple urban starts dropped 5% to 154,876 while single-family levels rose 8% in March to 65,832. The trend in housing starts in March was down 0.3% at 252,497 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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