Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

February 08, 2013 09:43 ET

January 2013 Housing Starts in Prince Edward Island

MONCTON, NEW BRUNSWICK--(Marketwire - Feb. 8, 2013) - Housing starts in Prince Edward Island were trending at 911 units 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)1 of housing starts.

"For the month of January, new home construction was above last year's level, due to a significant increase in multiple starts in Charlottetown. During the same period, single starts in both Charlottetown and Summerside did not reach the levels met in 2012," said Jason Beaton, CMHC's Market Analyst for Prince Edward Island.

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 was 1,507 units in January, up from 951 in December.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Follow CMHC on Twitter @CMHC_ca

[1] All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request

(Ce document existe également en français)

A graph is available at the following link: http://media3.marketwire.com/docs/cmhc_graph_eng_pei_0208.pdf

Preliminary Housing Start Data
January / 2012-2013
Province, Centres 10,000+ January
2012
January
2013
Actual, urban centres1
January - Single-Detached 11 2
January - Multiples - 122
January - Total 11 124
January to January - Single-Detached 11 2
January to January - Multiples - 122
January to January - Total 11 124
December
2012
January
2013
SAAR2, urban centres1
Total 951 1,507
Source: CMHC
1 Urban centres with a population of 10,000 and over.
2 Seasonally Adjusted at Annual Rates
Detailed data available on request.
Prince Edward Island Preliminary Actual Housing Start Data
January / 2012-2013
Urban Centres Single-Detached Multiples Total
2012 2013 2012 2013 2012 2013
Urban Centres 10,000+
Charlottetown CA 10 2 0 122 10 124
Summerside CA 1 0 0 0 1 0
Total Urban Starts 11 2 0 122 11 124
Prince Edward Island Preliminary Actual Housing Start Data
January / 2012-2013
Urban Centres Single-Detached Multiples Total
2011 2012 2011 2012 2011 2012
Urban Centres 10,000+
Charlottetown CA 10 2 0 122 10 124
Summerside CA 1 0 0 0 1 0
Total Urban Starts 11 2 0 122 11 124

Contact Information

  • Market Analysis Contact:
    Jason Beaton
    506-851-6047
    Cell: 506-874-3989
    jbeaton@cmhc.ca

    Media Contact:
    Patricia Montreuil
    506-851-2229
    Cell: 506-866-8047
    pmontreu@cmhc.ca