Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Brantford CMA

TORONTO, ONTARIO--(Marketwired - June 8, 2016) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending at 679 units in May compared to 656 units 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 in Brantford CMA total housing starts rose for the first time this year, mainly due to an increase in the trend of single-detached starts," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "Single-detached homes continued to be the dominant type of home built in Brantford. Homebuyers are moving to Brantford from other communities to take advantage of relatively affordable new single-detached homes."

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 601 units in May, up from 428 units in April. May's increase in the SAAR measure was due to increases in both single-detached and semi-detached housing starts.

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/1058145a.pdf

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