Canadian Housing Starts Trend Lower in May 2022

According to the Canada Mortgage and Housing Corporation, the trend in housing starts in May were at 254,727 units, down from April’s reported 257,833 units. The trend measure is a six-month average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

The separate monthly SAAR of total housing starts for all areas in Canada in May was 287,257 units, an increase of 8% from April. The SAAR of total urban starts increased by 8% to 264,162 units in May. Multi-unit urban starts increased by 13% to 201,193 units, while single-detached urban starts decreased by 4% to 62,969 units. Rural starts were estimated at a seasonally adjusted annual rate of 23,095 units.

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Canadian housing starts trended lower in May