Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2016 08:15 ET

July 2016 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - Aug. 9, 2016) - Total housing starts in the Windsor Census Metropolitan Area (CMA) trended up from 1,383 units in June to 1,453 units in July, 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 increased due to higher starts of multiple-unit homes. Among multi-unit housing types, the greatest upward trend has been in starts of row homes. The year-to-date total for row home starts has nearly surpassed its total for all of 2015, with five months still remaining in the year. Buyers seeking a row home in the resale market have very few options, providing the opportunity for developers to increase supply in the market," 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 housing starts decreased from 1,562 units in June to 1,478 units in July due to fewer single-detached 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/1065253_E.pdf

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