TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - Housing starts in Brantford, Census Metropolitan Area (CMA) were trending down at 389 units in October compared to 408 units in September, 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 Brantford CMA total housing starts decreased in October due to the decreasing trend for starts of single-detached homes," said Abdul Kargbo, CMHC's Senior Market Analyst for the Hamilton and Brantford CMAs. "While single-detached homes continued to be the preferred home type for homebuyers in the Brantford CMA, multi-unit developments have emerged as an affordable homeownership option in the 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. The multiples segment includes apartments, rows and semi-detached homes.
The standalone monthly SAAR was 257 units in October, down from 628 units in September. This decrease in the SAAR measure was mainly due to a decrease in row starts, which had been unusually high last month.
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.
(Ce document existe également en français)
To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1075529e.pdf