Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

January 10, 2017 08:15 ET

December 2016 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - Jan. 10, 2017) - The housing starts trend measure for Windsor Census Metropolitan Area (CMA) was lower at 1,210 units in December compared to 1,276 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.

"December's trend measure for Windsor CMA housing starts was lower, primarily due to fewer starts of single-detached homes in the second half of 2016. Despite the recent easing, the total number of single-detached starts in 2016 was the highest since 2005. That helped to push 2016 total starts to its highest level in more than a decade. Builders started a high number of single-detached homes in 2016 due to higher employment and a greater number of people moving to Windsor," said Anthony Passarelli, Senior Market Analyst with CMHC.

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 1,153 units in December, down from 1,597 units in November. Actual total housing starts for 2016 was 1,266 units, up from 1,010 units in 2015, due to higher starts of all dwelling types.

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 tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1082246e.pdf

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