CMHC reports third consecutive month of housing starts growth

Canada Mortgage and Housing Corporation’s latest Preliminary Housing Starts report shows a significant increase in the housing starts trend, a moving average of the monthly seasonally adjust annual rates (SAAR), in Canada. The housing starts trend measurement increased from 204,597 units in July 2020 to 213,144 units in August, which represents the third consecutive month of increases, according to CMHC’s chief economist Bob Dugan. The highest increase was in urban starts at 9.1 per cent, while single-detached urban starts decreased by one per cent.

The standalone monthly SAAR of housing starts for all areas in Canada was 262,396 units in August, an increase of 6.9 per cent from the 245,425 units reported in July, and significantly higher than the SAAR of 225,837 reported in August of last year.