September Canadian Housing Starts Up

The monthly standalone seasonally adjusted annual rate (SAAR) of Canadian housing starts in September was 270,466 units, 8.0% higher than in August. The SAAR of urban starts rose 9.0% from the previous month to 250,766. Multiple urban starts climbed 10.0% to 207,689 and single-family levels grew 3.3% from August to 43,077. The trend in housing starts improved 3.9% to 254,006 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 CMHC

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