Canadian Housing Starts Drop in October

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in October was 267,055 units, 11% lower than in September. The SAAR of urban starts also fell 11% from September to 245,234. Multiple urban starts declined 13% to 188,189 and single-family levels dipped 4% from September to 57,045. The trend in housing starts in October grew 0.5% to 277,667.

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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