The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in May was 279,510 units, mostly unchanged from April. The SAAR of urban starts was also near even with April at 259,804. Multiple urban starts increased 0.9% to 217,286, and single-family levels were 42,518, down 4.8% compared to April. The six-month trend in housing starts grew 0.8% to 243,407 units in May.
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