TORONTO, ONTARIO--(Marketwired - Nov. 8, 2016) - The housing starts trend measure in the Windsor Census Metropolitan Area (CMA) was slightly lower at 1,388 units in October compared to 1,431 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 measure for all dwelling types was lower in October, with the exception of apartments. Builders decreased starts, which were at a ten year high, due to a high number of completed and unsold new homes. Builders shifted their attention towards selling their larger-than-average inventories of unsold homes," 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 899 units in October, down from 1,239 units in September, due to fewer 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 graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/161107_CMHC_Windsor_eng.pdf
Contact Information:
416-218-3320
aritacco@cmhc.ca