Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2017 08:48 ET

PEI Housing Starts Trend Higher in January

HALIFAX, NOVA SCOTIA--(Marketwired - Feb. 8, 2017) - Housing starts in Prince Edward Island's urban areas were trending at 429 units in January 2017 compared to 390 in December 2016 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.

"Housing starts across Prince Edward Island's urban centres trended higher last month," said Sarena Teakles, Market Analyst with CMHC's Atlantic Market Analysis Centre. "Much of the activity was located in Charlottetown. There were 34 housing starts in Charlottetown and 3 in Summerside," added Teakles.

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 standalone monthly SAAR was 518 units in January 2017, up from 177 in December 2016.

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.

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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:

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