The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in May was 287,257 units, up 8% from April. The SAAR of urban starts rose 8% from April to 264,162. Multiple urban starts jumped 13% to 201,193 while single-family levels dropped 4% in May to 62,969. The trend in housing starts in May was down 1.2% at 254,727 units.
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 CMHC