The January monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in all areas was 238,049 units, down 15.2% from the prior month. The SAAR of urban starts decreased 3.5% from December 2025 to 237,155, and multiple totals declined 4.2% to 196,519. Single-family levels were 40,637, 0.4% below the prior month. The six-month trend in housing starts was down 3.5% at 254,794 units in January.
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