Canadian Housing Starts Rise in January
The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in January was 8.8% higher than December 2019 at 213,224 units. The SAAR of urban starts rose 9.8% from December 2019 to 202,407. Multiple urban starts increased 13.6% to 155,140, but single-family levels fell 0.9% to 47,267 from December. Rural starts totaled 10,817 for the 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