Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwired - June 8, 2016) - Housing starts in the Oshawa Census Metropolitan Area (CMA) trended higher at 2,532 in May 2016 compared to 2,433 in April 2016 according to Canada Mortgage and Housing Corporation (CMHC).The trend is a six month moving average of the monthly seasonally adjusted annual rate (SAAR)[1] of housing starts.

"Price weary homebuyers from Toronto continue to favour new single-detached homes in Oshawa CMA. However, with prices of detached homes in Oshawa reaching new highs, townhome starts have gained strength considerably," said Dana Senagama, CMHC's Principal of Market Analysis for the GTA.

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 standalone monthly SAAR edged lower to 2,348 units in May 2016 from 2,443 in April 2016. Strong increase in townhome SAAR did not offset the declines witnessed for other construction types.

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/1058175e.pdf

Contact Information

  • Media Contact:
    Angelina Ritacco
    Public Affairs Advisor, Communications and Marketing
    416-218-3320
    Cell: 647-210-7420
    aritacco@cmhc.ca