The March monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in all areas was 235,852 units, 6.0% below February. The SAAR of urban starts decreased 2.3% from the prior month to 235,906, while multi-unit totals fell 2.6% to 195,404 in March. Single-family levels were 40,503, 1.0% lower than February. The six-month trend in housing starts declined 2.9% to 248,378 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