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Canadian Housing Starts Fall in February

The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in February was 1.9% lower than the prior month at 210,069 units. The SAAR of urban starts in February fell 1.9% from January to 199,304. Multiple urban starts dropped 6.1% to 146,072, but single-family levels rose 11.9% to 53,232. Rural starts totaled 10,765 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

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