Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2014 08:15 ET

June 2014 Housing Starts in Saskatoon

SASKATOON, SASKATCHEWAN--(Marketwired - July 9, 2014) - Housing starts in the Saskatoon Census Metropolitan Area (CMA) were trending at 3,510 units in June compared to 3,378 in May, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of total housing starts.

"The trend in total housing starts moved higher in June after local home builders increased production of both single-detached and multi-family units. Unlike the previous two months when multi-family starts led the trend higher, the gain in June was most pronounced in the single-detached sector," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

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 standalone monthly SAAR was 3,193 units in June, up from 3,063 in May. Actual housing starts in June were more than 60 per cent higher than in June 2013 due to gains in both the single-detached and multi-family sectors. Builders started 205 single-detached units in June, the highest monthly total since July 2013.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request

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(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/956463e.pdf.

Contact Information

  • Market Analysis Contact:
    Goodson Mwale, Senior Market Analyst
    (306) 975-4897
    gmwale@cmhc.ca

    Media Contact:
    Charles Daniel Mainville
    Senior Communications Consultant
    (403) 515-2915
    cdmainvi@cmhc.ca