Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

Regina housing starts continue to trend higher in October

REGINA, SASKATCHEWAN--(Marketwired - Nov. 8, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,880 units in October compared to 1,791 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 total housing starts.

"The trend in total housing starts increased further in October after local home builders increased production of both single-detached and multi-unit dwellings. The trend measure was higher than CMHC's recently updated forecast range of 1,290 to 1,610 units for 2016. However, we expect the pace of housing starts in Regina to slow by year-end as builders navigate relatively weaker economic conditions and continue to draw down their inventory of new housing units," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.

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, analyzing 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 1,609 units in October, up from 1,463 in September. Total actual housing starts were up 56 per cent year-over-year in October, led by the singles sector where 76 units were started compared to 39 in October 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.

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Additional data is available upon request

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