Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

April 2016 Vancouver Housing Starts Trend Higher For All Dwelling Types

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 9, 2016) - Housing starts in the Vancouver Census Metropolitan Area (CMA) were trending at 27,305 units in April compared to 25,960 units 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.

"Housing starts continue to rise, trending above last month's total as construction of all home types increased," said Robyn Adamache, Principal Market Analyst. "The actual number of housing starts in the Vancouver CMA was the highest recorded for April since 1972," added Adamache.

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 32,878 units in April, up from 28,308 units in March as housing construction increased for all dwelling types.

Housing starts in the Abbotsford-Mission CMA were trending at 1,274 units in April, up from 1,249 units in March due to an increase in row home starts.

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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http://media3.marketwire.com/docs/1053603NE1.pdf

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