Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 10, 2017 08:28 ET

Continued Strength in Residential Activity this December

HALIFAX, NOVA SCOTIA--(Marketwired - Jan. 10, 2017) - Housing starts in Halifax Census Metropolitan Area (CMA) were trending at 2,652 units in December compared to 2,877 in November 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.

"While the pace of residential construction decelerated in December, actual construction activity for the year remained quite strong," said Guillaume Neault, CMHC Principal Market Analyst for Atlantic Canada. "Singles activity outpaced last year and multiples construction remained above historical levels," Neault added.

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 1,902 units in December, down from 2,885 in November.

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.

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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:

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