TORONTO, ONTARIO--(Marketwired - Sept. 8, 2016) - The trend measure for total housing starts in the Windsor Census Metropolitan Area (CMA) was relatively stable at 1,421 units in August compared to 1,443 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 measure for total housing starts was relatively unchanged at a high level in August, as an increase in multi-unit starts roughly offset the decrease in single-detached starts. The highest growth in multi-unit starts was in semi-detached starts. The average sale price of a new semi-detached home is less than $100,000 higher than the average sale price of a resale home, making them an appealing option for existing homeowners looking to upgrade to a new home in highly desirable neighbourhoods of Windsor CMA," said Anthony Passarelli, Senior Market Analyst with CMHC.
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 SAAR of total housing starts was 944 units in August, down from 1,435 units in July. Starts of all housing types decreased in August.
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 graph and tables are available at the following link: http://media3.marketwire.com/docs/1068733e.pdf.