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August housing starts up 1.9% : CMHC
September 11, 2019 By Canada Mortgage and Housing Corporation
The national trend in housing starts increased in August. Higher trending single-detached starts in urban centres in July and August following roughly a year of declines combined with higher-trending multi-family units in August to push the total starts trend to its highest level since June 2018.
The trend in housing starts was 218,998 units in August 2019, compared to 208,931 units in July 2019, according to Canada Mortgage and Housing Corporation (CMHC). This trend measure is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
The standalone monthly SAAR of housing starts for all areas in Canada was 226,639 units in August, up 1.9 per cent from 222,467 units in July. The SAAR of urban starts increased by 2.0 per cent in August to 213,663 units. Multiple urban starts decreased by 1.4 per cent to 160,388 units in August while single-detached urban starts increased by 13.6 per cent to 53,275 units.
Rural starts were estimated at a seasonally adjusted annual rate of 12,976 units.
The full report can be found here.
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