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