Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 08, 2016 14:22 ET

August 2016 Housing Starts in Sudbury

THUNDER BAY, ONTARIO--(Marketwired - Sept. 8, 2016) - Housing starts in the Greater Sudbury Census Metropolitan Area (CMA) were trending at 260 units in August, up from 171 units in July 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 August climbed for the second time in eight months in Greater Sudbury, driven by an increase in the multiples segment of the market, which include semi-detached, row and apartment units. Relatively strong wage growth, low interest rates and some pent-up demand for higher density housing are supporting housing starts increases," said Warren Philp, CMHC's Market Analyst for Sudbury.

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 547 in August, down only slightly from 570 in July.

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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1068693e_TABLES.pdf

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