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Canadian Housing Starts Increase in September

The standalone monthly seasonally adjusted annual rate (SAAR) of Canadian housing starts in September was 214,647 units, up 1.0% from August. The SAAR of urban starts fell 21.1% in September to 195,909. Multiple urban starts dropped 27% to 146,005, but single-family levels rose 3.4% to 49,904 from August.

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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