The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in July was 272,176 units, down 3.2% from June. The SAAR of urban starts fell 0.65% to 249,001 in July. Multiple urban starts declined 3.1% to 184,759 but single-family levels rose 7.1% from June to 64,242.
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
