New Brunswick Housing Starts Trend Up Slightly in January

HALIFAX, NOVA SCOTIA--(Marketwired - Feb. 8, 2017) - Housing starts in New Brunswick's urban centres were trending at 1,702 units in January compared to 1,531 in December 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 housing starts trend was up slightly in January compared to the previous month" said Michael Edwards, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "There were 97 residential units started across the province's urban centres with populations larger than 10,000 people" 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 1,671 units in January, up from 1,284 in December.

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.

(Ce document existe également en français)

To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1085264e_TABLES.pdf