The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in July was 294,085 units, up 3.7% from the prior month. The SAAR of urban starts increased 4.8% from June to 273,618, and multiple urban starts grew 5.6% to 231,142. Single-family levels were 42,476, up 0.5% compared to June. The six-month trend in housing starts rose 3.7% to 263,088 units in July.
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