The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in June was 241,672 units, 8.8% lower than May. The SAAR of urban starts in June was down 9.4% from the previous month at 223,234. Multiple urban starts fell 11.7% to 180,205, and single-family levels rose 1.8% from May to 43,029. The six-month trend in housing starts declined 0.4% to 247,205 in June.
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
