December 2015 Housing Starts in Sudbury

TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - Housing starts in the Greater Sudbury Census Metropolitan Area (CMA) were trending at 348 units in December compared to 338 units 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.

"The trend in housing starts in December remained relatively flat compared to that in November. Single-detached starts trended higher for a fourth consecutive month, while multiple-unit housing starts, which include semi-detached homes, townhouses and apartments, declined modestly. Overall, housing starts in 2015 totaled 247 units, down from 271 units in 2014. Job losses in the mining and related sectors continued to hold back the demand for housing in Sudbury," said Aris Gianneskis, 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 354 in December compared to 534 in November, as an increase in single-detached home starts was more than offset by the lack of apartment starts.

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 table and a graph are available at the following address: http://media3.marketwire.com/docs/SuburyENG.pdf