New Brunswick Housing Starts Down Slightly in November

HALIFAX, NOVA SCOTIA--(Marketwired - Dec. 8, 2016) - Housing starts in New Brunswick's urban centres were trending at 1,403 units in November compared to 1,583 in October 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.

"Year-to-date housing starts are down slightly from where they were this time last year," said Michael Edwards, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "Starts of single detached homes are down 6.5 per cent year-to-date or about 40 units. Starts of multi-family units were down slightly more at 79 units" 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 1,176 units in November, down from 1,508 in October.

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/1079373eng.pdf