Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2016 08:15 ET

Calgary Housing Starts Trend Slightly Higher in June

CALGARY, ALBERTA--(Marketwired - July 11, 2016) - Housing starts in the Calgary Census Metropolitan Area (CMA) were trending at 7,850 units in June compared to 7,735 in May, 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 total housing starts.

"Total housing starts trended higher in June as the pace of single-detached and multiple construction increased slightly from the previous month," said Richard Cho, CMHC Principal Market Analyst. "The pace of new home construction thus far in the year still remains relatively low due to weaker labour market condtions, declines in consumer sentiments and more supply in the market."

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, analyzing 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 9,783 units in June, up from 7,762 in May. Actual housing starts in June totalled 830 units, down 49 per cent from 1,616 in the same month in 2015. After six months, total housing starts reached 3,860 units compared to 6,628 during the same period in 2015.

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/1062072a.pdf

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