Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 10, 2015 08:15 ET

March 2015 Housing Starts in Regina

REGINA, SASKATCHEWAN--(Marketwired - April 10, 2015) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,636 units in March compared to 1,930 in February, 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 declined further in March after local home builders initiated fewer single-detached and multi-family units. This represents the fifth consecutive month that the trend has moved lower, as builders across the Regina CMA continue to manage an elevated level of new home inventory in the face of moderating economic fundamentals," 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 1,391 units in March, up from 758 in February. While the SAAR measure increased from the previous month, actual housing starts were 37 per cent lower in March than a year ago due to reductions in both single-detached and multi-family construction.

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.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request

(Ce document existe également en français)

(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/1001249_ENG.pdf

Contact Information

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

    Media Contact:
    Renee Nat, Public Affairs Advisor
    (403) 515-2963
    rnat@cmhc-schl.gc.ca