Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

November 2016 Housing Starts in Windsor

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - The housing starts trend measure for Windsor Census Metropolitan Area (CMA) was 1,283 units in November, down from 1,392 units 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.

"Windsor's trend measure decreased, as more than six months have passed since the unusually large number of starts which occurred in May. While the trend measure decreased, it remained at a high level. Demand for new homes was supported by greater employment and a shortage of resale homes listed for sale," said Anthony Passarelli, Senior Market Analyst with CMHC.

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 monthly SAAR of total starts was 1,609 units in November, up from 915 units in October, due to higher starts of all dwelling types.

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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To view the graphs associated with this release, please visit the following link: http://media3.marketwire.com/docs/cmhc1208wine.pdf.

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