Canadian Housing Starts Trend Lower in January

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in January was 230,754 units, down 3% from December 2021. The SAAR of urban starts fell 5% from December to 204,428. Multiple urban starts dropped 9% to 144,332 and single-family levels rose 7% in January to 60,096.

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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