The six-month trend in housing starts increased (1.6%) in August (267,259 units), according to Canada Mortgage and Housing Corporation (CMHC). …The total monthly SAAR of housing starts for all areas in Canada was down 16% in August (245,791 units) compared to July (293,537 units). “The slowdown in the SAAR that we saw in August is notable as it is well below the six-month trend line. If sustained, this adjustment in the level of housing starts would be consistent with both our forecast and current market intelligence indicating a slowdown in the pace of housing construction. It is worth noting that current housing starts levels are generally reflective of decisions made when interest rates were receding and investor confidence was higher than it is today,” said Kevin Hughes, CMHC’s Deputy Chief Economist.