The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in June was 273,841 units, down 3% from May. The SAAR of urban starts dropped 3% from May to 257,438. Multiple urban starts fell 2% to 197,022, with single-family levels shrinking 4% in June to 60,416. The trend in housing starts in June was up 1.2% at 258,295 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