Housing starts in Canada were trending to 187,197 units in August 2013, from 187,324 in July 2013, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Mathieu Laberge, CMHC Deputy Chief Economist, said result continue to be in-line with its forecasts. "The trend in total housing starts continued to be relatively stable for a sixth consecutive month, remaining within a narrow range of roughly 182,000 to 188,000 units since March 2013."
The standalone monthly SAAR was 180,291 units in August, down from 193,021 in July. The SAAR of urban starts was down 5.8% in August to 163,102 units, mostly a result of lower multi-family dwellings in August. Multi-family urban starts were down 8.4% to 104,704 units in August 2013.
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