Canadian Housing Starts Moving-Average Up in July

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in July was 275,329 units, 1.1% higher than June. The SAAR of urban starts dropped 0.8% from June to 254,371. Multiple urban starts fell 0.3% to 195,987, with single-family urban levels shrinking 2.3% in July to 58,384. The trend in housing starts in July increased 2.6% at 264,426 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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