Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2017 08:15 ET

January 2017 Housing Starts in Guelph

TORONTO, ONTARIO--(Marketwired - Feb. 8, 2017) - Housing starts in the Guelph Census Metropolitan Area (CMA) were trending slightly up at 729 units in January compared to 700 units 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 slight increase in the total housing starts trend in January occurred because the trend for semi-detached and apartments moved higher. The trends for starts of single-detached houses and townhomes were relatively flat in January," said Erica McLerie, Senior Market Analyst at CMHC. "In-migration and a very tight resale market have supported the demand for new homes. However, the land constraints in the City of Guelph have meant fewer low-rise starts."

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 multiples segment includes apartments, rows and semi-detached homes.

The SAAR of total housing starts was 451 units in January, down from 538 units in December due to a lower number of starts for single-detached and semi-detached houses and townhouses.

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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To view the graph and tables associated with this release, please visit the following link:

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