The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in December 2023 was 249,255 units, 18.2% higher than November. The SAAR of urban starts in December grew 20.0% from the previous month to 234,705. Multiple urban starts increased 26.3% to 191,463, while single-family levels decreased 1.8% from November to 43,242. The six-month trend in housing starts dipped 2.1% to 249,898 in December. Overall, housing starts dropped 7.1% for the year over 2022.
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
