Canadian Housing Starts Trend Higher in June

According to the latest release from the Canadian Mortgage and Housing Corporation (CMHC), the trend in housing starts increased from 252,444 units in May to 258,295 units in June, an increase of 5,851 units. This trend measure is a six-month average of the monthly seasonally adjusted annual rate (SAAR) of housing starts in Canada.

The standalone monthly SAAR of total housing starts for all areas in Canada in June was 273,841 units, a decrease of 3% from May. The SAAR of total urban starts decreased by 3% to 257,438 units in June. Multi-unit urban starts declined by 2% to 197,022 units, while single-detached urban starts decreased by 4% to 60,416 units. Rural starts were estimated at a seasonally adjusted annual rate of 16,403 units.