Canadian Housing Starts Rise in June
The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian urban starts in June jumped 26% from May to 245,657 units. Multiple urban starts increased 31% to 185,804 and single-family levels rose 8% to 48,434 from May. The six-month moving average of monthly starts in June totaled 205,838, up 2.6% from the previous month.
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