Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwired - June 8, 2016) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 1,267 units in May, down from 1,413 in April, 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 decreased in May, due mainly to single- detached home starts trending lower. Given the land constraints within the City of Barrie, single-detached home starts have decreased in favor of more single-detached home starts in the Township of Springwater." 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 1,342 units in May, up from 515 in April. This increase in the SAAR measure is due to an increase in starts of both single-detached homes and apartments.

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/1058135e.pdf

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