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Canadian Housing Starts Up in April

The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian urban starts in April jumped 22.6% from March to 235,460. Multiple urban starts increased 29.6% to 175,732 and single-family levels rose 6% to 44,655 from March. The six-month moving average of monthly starts in April totaled 206,103 units, up 1.8% from 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 CMHC

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