Canadian Housing Starts Dip in February
The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in February was 245,922 units, down 13.5% from January. The SAAR of urban starts fell 14% to 231,042 in February. Multiple urban starts dropped 15.8% to 163,757 and single-family levels declined 9.3% to 67,285 from January.
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