The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in March was 242,195 units, 7% lower than February. The SAAR of urban starts in March decreased 7.0% from the previous month to 220,743. Multiple urban starts fell 8.0% to 180,229, and single-family levels declined 4.0% from February to 40,514. The six-month trend in housing starts dipped 1.6% to 243,957 in March.
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
