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Canadian Housing Starts Fall in March

The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in March was 7.3% lower than the prior month at 195,174 units. The SAAR of urban starts in March fell 7.3% from February to 182,553. Multiple urban starts dropped 13.4% to 124,073, but single-family levels rose 8.8% to 58,480. 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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