Canadian Housing Starts Increase in April Excluding Quebec
Canadian housing starts in April totaled 199,589 units, down 2.59% from March. Excluding Quebec, however, housing starts actually increased by 0.01% to 155,995 units over March. This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in April, excluding Quebec, was 10.8% higher than the prior month. Without Quebec, the SAAR of urban starts increased 12.4%, with multiple urban starts up 35.7% and single-family levels down 27.1%.
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