The November monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in all areas was 254,058 units, up 9.4% from the prior month. The SAAR of urban starts decreased 1.8% from October to 241,470, and multiple totals slipped 2.0% to 200,290. Single-family levels were 41,180, 1.0% below the prior month. The six-month trend in housing starts declined 1.7% to 264,445 units in November.
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