VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 8, 2016) - Housing starts in British Columbia's urban areas were trending at 37,772 units in October compared to 40,996 units in September, 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.
"British Columbia housing starts trended lower in October with the slowdown in apartment construction contributing to most of this decline," said Robyn Adamache, CMHC's Principal Market Analyst. "This said, the trend measure of housing starts remains well above the five year average level."
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 for urban starts in British Columbia was 25,517 units in October, compared to 46,294 units in September.
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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1075503Tables.pdf