Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - June 8, 2016) - The housing starts trend in the Windsor Census Metropolitan Area (CMA) was 1,354 units in May compared to 1,094 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.

"Starts of all dwelling types trended up in May, with the greatest upward trend occurring in multi-unit housing starts. One of the primary factors supporting demand for new multi-unit homes is the growing number of empty nesters, as some are looking to downsize but have very few options in the resale market," said Anthony Passarelli, Senior Market Analyst with 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, 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 monthly SAAR of total starts was 2,283 units in May, up from 1,175 units in April, mostly due to a high number of apartment and row starts. The majority of row and apartment starts tend to occur in a few months every year in Windsor.

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/1058197e.pdf

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