Canadian Housing Starts Higher in June
Canadian housing starts in June totaled 199,655 units, rising from 197,063 in May. 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 June was 8.3% higher than May 2019 at 211,681 units. The SAAR of urban starts rose 8.7% from June 2019 to 196,675. Multiple urban starts grew 13.0% to 154,602, but single-family levels fell 4.5% to 42,073 from May.
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