Housing Starts Remain Historically High

The trend in housing starts was 257,846 units in April, up from 253,226 units in March, says Canada Mortgage and Housing Corporation (CMHC). "On a trend and monthly seasonally adjusted annual rate (SAAR) basis, the level of housing starts activity in Canada remains historically high, hovering well above 200,000 units since June 2020 and increased from March to April," says Bob Dugan, CMHC's chief economist. The standalone monthly SAAR of total housing starts for all areas in Canada in April was 267,330 units, an increase of eight per cent from March. The SAAR of total urban starts increased by 10 per cent to 245,324 units in April, with multi-unit urban starts increasing by 14 per cent to 178,092 units and single-detached urban starts increasing by one per cent to 67,232 units. Rural starts were estimated at a seasonally adjusted annual rate of 22,006 units.