The February monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in all areas was 250,900 units, 4.5% above January. The SAAR of urban starts increased 0.7% from the prior month to 238,973, while multi-unit totals rose 1.0% to 198,609. Single-family levels were 40,365, 0.8% below January. The six-month trend in housing starts increased 0.4% to 256,005 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