Canadian Housing Starts Decline in June
Monthly Housing Starts and Other Construction Data Tables
The Canada Mortgage and Housing Corporation (CMHC) reported on Tuesday that the trend in housing starts was 247,205 units in June. The trend measure is a 6-month moving average of the monthly seasonally adjusted annual rate (SAAR) of total housing starts for all areas in Canada. The June trend is 0.4% below the 242,260 units reported in May.
The total SAAR housing starts trend was up 23% in Montreal, driven by a 26% increase in multi-unit starts. On the other hand, Toronto’s trend was 37% lower, while Vancouver was 13% lower—both losses the result of decreases in multi-unit starts.
On a monthly standalone SAAR basis, the total number of housing starts for all areas in Canada in June was 241,672 units, a decline of 9.0% from May. The total number of urban starts decreased 9.0% from May to 223,234 units.
Multi-unit urban starts decreased 12% to 180,205. Single-detached urban starts increased 2% to 43,029 units. Rural starts were estimated at a SAAR of 18,438 units.
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