Trend in housing starts rises again in June
The trend in housing starts was 205,838 units in June 2019, compared to 200,530 units in May 2019, according to Canada Mortgage and Housing Corporation (CMHC).
The standalone monthly seasonally adjusted annual rates (SAAR) of housing starts for all areas in Canada was 245,657 units in June, up 26 per cent from 196,809 units in May.
The SAAR of urban starts increased by 26 per cent in June to 234,238 units, while multiple urban starts increased by 31 per cent to 185,804 units and single-detached urban starts increased by 8 per cent to 48,434 units.
CMHC uses the 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.
“The national trend in housing starts increased in June, primarily due to higher trending row and apartment starts in urban areas,” said Bob Dugan, CMHC’s chief economist. “The strong surge in the SAAR of apartment starts in April is also contributing to the high level of the trend measure of total housing starts in June.”