Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 08, 2016 08:15 ET

March 2016 Housing Starts in Kingston

TORONTO, ONTARIO--(Marketwired - April 8, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 401 units in March compared to 462 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) of housing starts.

"Housing starts in Kingston were trending lower for the month of March, as the rise in the trend for single-detached starts was not enough to offset the decreasing trend in apartment starts. Market intelligence suggests that apartment starts are trending down because builders are waiting to finish older projects before they begin new ones," said Aris Gianneskis, CMHC's Market Analyst for Kingston.

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 multiples segment includes apartments, rows and semi-detached homes.

The standalone monthly SAAR was 477 units in March up from 379 in February as more single-detached units were supplied to the housing market.

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 advice 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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A table and a graph are available at the following address: http://media3.marketwire.com/docs/1049949e.pdf

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