The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in August was 260,239 units, down 3.9% from July. The SAAR of urban starts fell 4.7% from July to 235,782. Multiple urban starts declined 5.7% to 173,120 and single-family levels dropped 2.0% from July to 62,662.
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
