TORONTO, ONTARIO--(Marketwired - Feb. 8, 2017) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 431 units in January compared to 464 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.
"Housing starts in Kingston were trending slightly lower for the month of January driven primarily by fewer apartments starts." said Aris Gianneskis, CMHC's Market Analyst for Kingston. "Lack of apartment starts kept the trend relatively flat in recent months."
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 standalone monthly SAAR was 438 units in January, down from 538 in December, as the starts of more single and semi-detached homes were not enough to offset the decline in townhome and apartment starts.
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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1085139e.pdf