Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 08, 2013 08:15 ET

April 2013 Housing Starts in New Brunswick

MONCTON, NEW BRUNSWICK--(Marketwired - May 8, 2013) - Housing starts in New Brunswick were trending at 1,653 units in April compared to 1,875 in March according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"Since the start of the year, a decline in single-detached starts has been offset by an increase in the number of multi-residential starts, particularly in the rental market. A strong start to the construction season did not extend into April, causing overall starts activity to trend lower," said Claude Gautreau, CMHC's Senior Market Analyst for New Brunswick.

CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and obtain a more complete picture of the state of the housing market. In some situations, analysing only SAAR data can be misleading in some markets, as they are largely driven by the multiples segment of the markets which can be quite variable from one month to the next.

The standalone monthly SAAR was 666 units in April, down from 1,007 in March.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

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1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

(Ce document existe également en français)

A graph is available at the following address: http://media3.marketwire.com/docs/nbhousing_eng.pdf

Preliminary Housing Start Data
April 2013
New Brunswick, Centres 10,000+ March 2013 April 2013
Trend1, urban centres2 1,875 1,653
SAAR, urban centres2 1,007 666
April 2012 April 2013
Actual, urban centres2
April - Single-Detached 66 27
April - Multiples 54 12
April - Total 120 39
January to April - Single-Detached 144 83
January to April - Multiples 163 193
January to April - Total 307 276
Source: CMHC
1The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
2Urban centres with a population of 10,000 and over.
Detailed data available upon request
New Brunswick Preliminary Actual Housing Start Data
April / 2012-2013
Urban Centres Single-Detached Multiples Total
2012 2013 2012 2013 2012 2013
Urban Centres 100,000+
Moncton CMA 20 10 34 6 54 16
Saint John CMA 13 7 2 4 15 11
Urban Centres 50,000-99,999
Fredericton CA 24 1 14 2 38 3
Total Urban Starts1 66 27 54 12 120 39
New Brunswick Preliminary Actual Housing Start Data
January to April / 2012-2013
Urban Centres Single-Detached Multiples Total
2012 2013 2012 2013 2012 2013
Urban Centres 100,000+
Moncton CMA 42 25 122 159 164 184
Saint John CMA 30 18 19 8 49 26
Urban Centres 50,000-99,999
Fredericton CA 51 24 18 19 69 43
Total Urban Starts1 144 83 163 193 307 276
1 Urban starts include an estimate for the areas 10,000-49,999 for the first two months in a quarter and are subject to revision(s) after quarterly enumeration in the third and final month of the quarter.

Contact Information

  • Market Analysis Contact:
    Claude Gautreau
    506-851-2742
    Cell: 506-866-9002
    cgautrea@cmhc.ca

    Media Contact:
    Patricia Montreuil
    506-851-2229
    Cell: 506-866-8047
    pmontreu@cmhc.ca