Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2015 08:15 ET

November 2015 Housing Starts in Regina

REGINA, SASKATCHEWAN--(Marketwired - Dec. 8, 2015) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,968 units in November compared to 1,823 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 total housing starts.

"The trend in total housing starts moved higher in November after local builders increased production of both single-detached and multi-family units. Despite this upward movement in the trend from the previous month, weaker economic conditions and elevated inventory have constrained total housing starts in Regina in 2015," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

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, analyzing 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 2,448 units in November, up from 1,077 in October. While actual starts in both the single-detached and multi-family sectors increased in November from the previous year, the gain was most pronounced among multiples where 145 units were started compared to 47 in November 2014.

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.

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.

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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/1035831e.pdf.

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