Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in the Sherbrooke CMA

MONTRÉAL, QUÉBEC--(Marketwired - June 8, 2016) - Housing starts in the Sherbrooke census metropolitan area (CMA) were trending at 1,359 units in May, compared with 1,614 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 measure for housing starts in the Sherbrooke CMA decreased in May compared with the previous month. The high number of properties for sale, relatively elevated rental market vacancy rate, and slowdown in household formation are among the factors contributing to the expected moderation in construction activity in 2016," said Eric Bond, Senior Market Analyst at CMHC.

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 stand-alone monthly SAAR was 849 units in May, down from 1,240 in April.

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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1057908e.pdf

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