The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in September was 299,589 units, 10.8% higher than in August. The SAAR of urban starts rose 12.1% from August to 276,142. Multiple urban starts increased 16.1% to 216,549, with single-family urban levels dipping 0.3% in September to 59,593. The trend in housing starts in September grew 3.3% to 276,813 units.
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