Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2016 08:15 ET

February 2016 Housing Starts in Winnipeg

WINNIPEG, MANITOBA--(Marketwired - March 8, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 4,451 units in February compared to 4,513 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 total housing starts.

"Fewer apartment starts in February caused the trend in total housing starts to decline," said Braden Batch, CMHC's Senior Market Analyst for Manitoba. "With zero rental starts in February, total multi-family starts moved lower this month compared to January" added Batch.

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, analyzing 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 standalone monthly SAAR decreased to 3,788 units in February from 4,055 units in January. Actual single detached starts increased 24 per cent year over year, and multi-family starts increased from 63 to 132 units total from February 2015 to February 2016 respectively, driven by condo unit construction.

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.

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Additional data is available upon request

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Tables and a graph are available at the following address:

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