The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in February was 229,030 units, 4.3% lower than January. The SAAR of urban starts in February decreased 4.7% from the previous month to 209,784. Multiple urban starts fell 5.5% to 166,508, and single-family levels were 43,276, declining 1.2% compared to January. The six-month trend in housing starts rose 1.1% to 239,382 units in February.
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
