The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in July was 279,509 units, 15.7% higher than June. The SAAR of urban starts in July was up 17.4% from the previous month at 261,134. Multiple urban starts grew 21.2% to 217,306, and single-family levels rose 1.7% from June to 43,828. The six-month trend in housing starts increased 3.2% to 255,783 in July.
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
