The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in March was 214,155 units, 3.3% lower than February. The SAAR of urban starts in March decreased 2.8% from the previous month to 203,285. Multiple urban starts fell 3.7% to 160,273, and single-family levels were 43,012, increasing 0.7% compared to February. The six-month trend in housing starts dipped 0.7% to 235,316 units in March.
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