THUNDER BAY, ONTARIO--(Marketwired - Jan. 10, 2017) - Housing starts in the Greater Sudbury Census Metropolitan Area (CMA) were trending at 432 units in December, up slightly from 373 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 was up, given the increase in both the multiple unit starts trend and single-detached starts trend," said Warren Philp, CMHC's Market Analyst for Sudbury. "After a slow first half, starts activity has trended up as full-time employment and wages improved."
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 570 in December, up from 180 in November, mainly due to an increase in multiples 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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To view the graph and table associated with this release, please visit the following link: http://media3.marketwire.com/docs/1082197E.pdf
Contact Information:
Angelina Ritacco
416-218-3320
aritacco@cmhc.ca