Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2016 08:15 ET

June 2016 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwired - July 11, 2016) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 1,601 units in June, up from 1,283 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) of housing starts.

"The trend of housing starts increased in June, due to rising trends for starts of all home types. While single-detached homes continued to be popular among homebuyers, the land constraints within the City of Barrie has pushed development towards more multi-unit structures. In the first half of 2016, about 53 per cent of starts occurred in multi-unit projects compared to about 39 per cent in the previous two years," 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 2,618 units in June, up from 1,392 in May. This increase in the SAAR measure is due mainly to a large increase in starts of multi-unit developments.

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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/088a.pdf

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