TORONTO, ONTARIO--(Marketwired - Feb. 8, 2017) - The housing starts trend measure for Windsor Census Metropolitan Area (CMA) was 1,160 units in January, down from 1,216 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 trend measure was down in January, as the decrease in starts of semi-detached, rows and apartments over the past six months more than offset higher single-detached starts. Single-detached starts, which are the best reflection of market conditions as they are the least volatile, are sitting near a ten year high due to a severe shortage of homes listed for sale," said Anthony Passarelli, Senior Market Analyst with CMHC.
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 monthly SAAR of total starts was 1,076 units in January, down from 1,164 units in December due to lower starts of all dwelling types with the exception of apartments, which were dormant in both months.
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/1085146e_TABLES.pdf