The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in October was 240,761 units, 7.8% higher than September. The SAAR of urban starts in October was up 6.1% from the previous month at 223,111. Multiple urban starts rose 7.5% to 175,705, and single-family levels were 47,406, increasing 1.4% compared to September. The six-month trend in housing starts was mostly unchanged at 243,522 units in October.
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 CHMC