The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in September was 279,234 units, up 14.2% from the prior month. The SAAR of urban starts increased 15.9% from August to 254,345, and multiple urban starts rose 18.9% to 213,309. Single-family levels were 41,036, 2.4% above the prior month. The six-month trend in housing starts grew 4.1% to 277,147 units in September.
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