Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

October 2016 Housing Starts in Peterborough

TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - Housing starts in the Peterborough Census Metropolitan Area (CMA) were trending up at 733 units in October compared to 667 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.

"Demand for new homes has proved resilient. After a short-lived pause, both single-detached and multi-unit housing starts were on an upward trend during October. Demand has been sufficiently strong to not only support starts but also to reduce inventories of unsold new homes to the lowest level in two years," said Olga Golozub, CMHC's Market Analyst for Peterborough.

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 multi-unit segment includes apartment, row and semi-detached homes.

The standalone monthly SAAR was 426 units in October, down from 978 units in September, as an increase in multi-unit dwellings couldn't offset the decline in single-detached homes. Actual starts for the first ten months of 2016 increased 40 per cent from 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.

(Ce document existe également en français)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1075540_ENG.pdf

Contact Information