The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in October was 232,765 units, down 16.6% from the prior month. The SAAR of urban starts decreased 3.3% from September to 245,752, and multiple totals slipped 3.7% to 204,189. Single-family levels were 41,563, 1.4% below the prior month. The six-month trend in housing starts declined 3.0% to 268,907 units in October.
The Canada Mortgage and Housing Corporation (CHMC) 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