Canadian Housing Starts Improve in February

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in February was 253,468 units, 13.6% higher than January. The SAAR of urban starts in February rose 15.0% from the previous month to 238,633. Multiple urban starts increased 19.6% to 196,392, while single-family levels fell 2.3% from January to 42,241. The six-month trend in housing starts grew 0.4% to 245,665 in February.

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

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