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March Canadian Housing Starts Increase

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in March was 335,200 units, up 21.6% from February. The SAAR of urban starts rose 24.4% to 300,973 in March. Multiple urban starts jumped 33.8% to 222,358 and single-family levels grew 3.6% to 78,615 from February.

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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