The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in February was 243,959 units, 12.7% higher than January. The SAAR of urban starts increased 15.7% from January to 222,663. Multiple urban starts grew 18% to 173,745, while single-family levels rose 8% from January to 48,918. The trend in housing starts in February dipped 1.6% to 255,735.
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