Canadian Housing Starts Fall in August
The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian urban starts in August rose 1.9% from July to 226,639 units. Multiple urban starts in August dropped 1.4% from the prior month to 160,388, and single-family levels increased 13.6% over the same period to 53,275. The six-month moving average of monthly starts in August totaled 218,998, up 4.8% from the previous month.
CMHCThe 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