Multiples Starts Trend Down in April 2016

HALIFAX, NOVA SCOTIA--(Marketwired - May 9, 2016) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 1,327 units in April 2016 compared to 1,387 in March 2016 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.

"Total starts trended lower in April, as the pace of multiples starts slowed from the strong levels recorded throughout 2015," said Guillaume Neault, Principal Market Analyst, Atlantic. "Single-detached starts rebounded slightly, recording the strongest month since January 2015," added Neault.

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 was 676 units in April 2016, down from 707 in March 2016.

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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A table and a graph are available at the following address: http://file.marketwire.com/release/1053921e.pdf