Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 11, 2016 08:15 ET

December 2015 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - Jan. 11, 2016) - Housing starts in the Windsor Census Metropolitan Area (CMA) were trending up at 1,246 units in December compared to 1,138 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.

"Higher single-detached, semi-detached and row starts over the past six months caused the housing starts trend to reach its highest level in a decade. Existing homes listed for sale are in very short supply and trended lower," said Anthony Passarelli, Senior Market Analyst with CMHC. "At the same time housing demand has increased, providing the opportunity for developers to increase housing starts."

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 monthly SAAR of total starts was 1,433 units in December, up from 747 in November due to higher starts of single-detached, semi-detached and row homes. Actual housing starts in 2015 totalled 1,010 units, an increase of 25 per cent from 2014. Both single-detached and multiple-unit starts increased by 25 per cent from 2014 to 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.

(Ce document existe également en français)

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

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