Canada Mortgage and Housing Corporation



Canada Mortgage and Housing Corporation

February 10, 2014 08:15 ET

January 2014 Housing Starts in Sudbury

TORONTO, ONTARIO--(Marketwired - Feb. 10, 2014) - Housing starts in the Greater Sudbury, Census Metropolitan Area (CMA) were trending at 367 units in January compared to 634 in December 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.

"Historically, January and February are considered slower months for housing starts in Greater Sudbury. As such, only four starts were recorded in January. This starts activity was seen only in apartment construction which might be a precursor of another strong year for apartment starts." said Jawad Ahmad, CMHC's Market Analyst for Sudbury.

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 standalone monthly SAAR was 51 units in January, down from 236 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.

For more information, visit www.cmhc.ca or call 1-800-668-2642. CMHC Market Analysis standard reports are also available free for download at CMHC Housing Market Information.

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.

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A graph and table are available at the following link : http://media3.marketwire.com/docs/926490e.pdf.

Contact Information

  • Market Analysis Contact:
    Jawad Ahmad, Market Analyst
    416-218-3373
    jahmad@cmhc.ca

    Media Contact:
    Beth Bailey, Consultant, Communications and Marketing
    bbailey@cmhc.ca
    416-218-3355
    Cell: 416-988-4615