Canada housing starts rise in May

Canada housing looks good as the data released by the Canada Mortgage and Housing Corporation (CMHC) on Monday showed seasonally adjusted annual rates (SAAR) of housing starts rose 201,705 units in May, up from 183,329 units in April.

 
The trend measure of housing starts in Canada was 181,231 units in May compared to 179,524 in April. The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts. The SAAR of urban starts increased by 10.8 per cent in May to 185,235 units. Multi-unit urban starts increased by 16.9 per cent to 126,367 units in May, while the single-detached urban starts segment essentially held steady at 58,868 units.