Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 10, 2012 08:15 ET

November 2012 Housing Starts in Oshawa

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in Oshawa Census Metropolitan Area (CMA) were trending at 1,453 units in November, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR) 1 of housing starts. The standalone monthly SAAR was 1,218 units in November, down from 1,556 in October.

"New home construction activity in Oshawa has been losing speed over the past months. A reduced supply of new low-rise homes available for sale, particularly in Whitby and Oshawa City, has been one of the key factors," said Inna Breidburg, CMHC's Market Analyst for Oshawa CMA.

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.

Due to a slowdown in the single-detached segment, total November starts in Oshawa CMA were down by more than 50 per cent compared to the same period last year. Thanks to stronger new home construction activity earlier this year, year-to-date starts totalled 1,671 units, only four per cent lower than in 2011. The highest number of housing starts in the CMA this year was recorded in Clarington.

Preliminary Housing Starts data is also available in English and French at the following link:
Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

[1] All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Additional data is available upon request.

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A graph is available at the following address:

Preliminary Housing Start Data
November / 2011-2012
Oshawa, CMA1 2011 2012
November - Single-Detached 210 88
November - Multiples 22 32
November -Total 232 120
January to November - Single-Detached 1,297 1,059
January to November - Multiples 445 612
January to November -Total 1,742 1,671
October 2012 November 2012
Total 1,556 1,218
Source: CMHC
1 Census Metropolitan Area
2 Seasonally Adjusted at Annual Rates
Detailed data available upon request.
Durham Region Preliminary Actual Housing Start Data by Type
November / 2011-2012
SingleSemi Row AptTotal
Oshawa City473800001295947
Total Oshawa CMA1210880101013129232120
Total Durham Region Starts41112310101029129443171
Durham Region Preliminary Actual Housing Start Data by Type
Year to Date / 2011-2012
SingleSemi Row AptTotal
Oshawa City32126040267757449482352
Total Oshawa CMA11,2971,0594042361268443021,7421,671
Total Durham Region Starts1,9991,682128846865142793023,0922,582
1Census Metropolitan Area

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