Canadian Housing Starts Trend Lower in September

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in September was 251,151 units, down 4.4 % from August. The SAAR of urban starts fell 4.5% from August to 223,055. Multiple urban starts declined 4% to 165,861 and single-family levels dropped 5.9% from August to 57,194.

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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