Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2014 08:15 ET

November 2014 Housing Starts in Sudbury

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2014) - Housing starts in the Greater Sudbury, Census Metropolitan Area (CMA) were trending at 376 units in November compared to 307 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)1 of housing starts.

"Residential construction activity moved higher in November largely due to increasing activity in the multi-unit segment of the housing market. Year-to-date starts for semi-detached and row homes are above five year average. Rising prices for new single-detached homes and modest growth in Sudbury's labour market are factors supporting demand for less expensive housing," said Jawad Ahmad, CMHC's Market Analyst for Sudbury.

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 565 units in November, up from 321 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 advice to Canadian governments, consumers and the housing industry.

Follow CMHC on Twitter @CMHC_ca.

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.

(Ce document existe également en français)

A table and a graph are available at the following address: http://media3.marketwire.com/docs/982921a.pdf

Contact Information

  • Market Analysis Contact:
    Jawad Ahmad, Market Analyst
    416-218-3373
    jahmad@cmhc.ca

    Media Contact:
    Beth Bailey, Consultant, Communications and Marketing
    416-218-3355
    Cell: 416-988-4615
    bbailey@cmhc.ca