Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2016 08:15 ET

February 2016 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - March 8, 2016) - The housing starts trend in the Windsor Census Metropolitan Area (CMA) was 1,146 units in February compared to 1,257 in January, 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 Windsor CMA total housing starts was down in February 2016 compared to the previous month, due to weaker multi-unit starts. The increase in single-detached housing starts was not enough to completely offset the decline in multi-unit housing starts," 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 1,143 units in February, up from 1,084 in January. The February increase in the SAAR measure of housing starts was driven by an increase in single-detached and row starts. In the first two months of 2016, the actual number of single-detached starts reached 75 units compared to 33 reported for the same period last year.

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/1045993Windsor_ENG.pdf

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