HALIFAX, NOVA SCOTIA--(Marketwired - Nov. 8, 2016) - Housing starts in New Brunswick's urban centres were trending at 1,578 units in October compared to 1,526 in September 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.
"October's housing starts were trending at about the same level as this time last year," said Michael Edwards, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "However, even though the trend is at the same level, starts year-to-date are down slightly from last year because of a slow start to 2016" added Edwards.
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 1,486 units in October, down from 3,098 in September.
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/1075635e.pdf