Canadian Housing Starts Trend Lower in December

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in December 2021 was 236,106 units, down 22 % from November. The SAAR of urban starts plummeted 24% from November to 212,918. Multiple urban starts declined steeply by 29% to 157,687 and single-family levels dropped 4% from November to 55,231.

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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