Canadian Housing Starts Increase in August
The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in August was 262,396 units, up 6.9% from July. The SAAR of urban starts rose 7.1% in August to 248,154. Multiple urban starts grew 9.1% to 201,214, but single-family levels fell 1.0% to 46,940 from July.
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