Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

November 2016 Housing Starts in Barrie

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 2,150 units in November, down from 2,248 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.

"The trend in Barrie CMA total housing starts decreased in November, due to declining trends in starts of all types of dwellings. Although the trend of total starts was down in November, it remained above its average of the last two years, given the large number of apartment starts in the recent past," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.

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 multiples segment includes apartments, rows and semi-detached homes.

The standalone monthly SAAR was 789 units in November, down from 1,440 in October. November's decrease in the SAAR measure was due to a decrease in starts of all housing types. The year-to-date actual starts were 74 percent higher compared to the same period in 2015.

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/CMHC_DEC8_BARRIE_E.pdf

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