TORONTO, ONTARIO--(Marketwired - Feb. 8, 2017) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 1,525 units in January, down from 1,802 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) of housing starts.
"The trend in Barrie total housing starts decreased in January because the trends of singles, rows and apartments starts all declined. Demand from move-up buyers and migrants from the Greater Toronto Area (GTA) continued to fuel housing demand, but the scarcity of land limited the number of housing starts in the City of Barrie. As a result, builders poured more foundations in the town of Innisfil and the township of Springwater," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.
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 multiples segment includes apartments, rows and semi-detached homes.
The standalone monthly SAAR was 568 units in January, slightly up from 548 in December. January's increase in the SAAR measure was mainly driven by the start of a number of rows and semi-detached homes in the town of Innisfil.
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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