Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2016 08:15 ET

July 2016 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwired - Aug. 9, 2016) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 1,412 units in July, down from 1,597 in June, 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 of total housing starts decreased in July, due to a decrease in the apartment starts trend. Starts for all other home types trended up in the last month. With limited land for residential construction in the City of Barrie, the town of Innisfil has been the preferred location for new low-rise and high-rise developments. Year-to-date, more than 61 per cent of total starts in the Barrie CMA were initiated in the town of Innisfil," 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 2,246 units in July, down from 2,600 in June. This decrease in the SAAR measure was due to a decrease in both singles and apartments 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/1065223A_Tables.pdf

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