Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

April 2016 Housing Starts in Kingston

TORONTO, ONTARIO--(Marketwired - May 9, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 381 units in April compared to 400 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) of housing starts.

"The trend in housing starts in Kingston remained relatively flat for the month of April, as the rise in the trend for low-rise starts, which includes singles, semis and rows, was offset by the decreasing trend in apartment starts. Full-time employment continues to support the demand for ownership homes," said Aris Gianneskis, CMHC's Market Analyst for Kingston.

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 multiples segment includes apartments, rows and semi-detached homes.

The standalone monthly SAAR was 526 units in April, up from 473 in March, due to more starts of townhouse units.

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

As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request.

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A table and a graph are available at the following address: http://media3.marketwire.com/docs/1053856a.pdf

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