Canadian Housing Starts Jump in January
The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in January was 282,428 units, up 23.1% from December 2020. The SAAR of urban starts increased 27.7% to 266,877 in January. Multiple urban starts rose 24.1% to 193,328 and single-family levels soared 38.1% to 73,549 from December.
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