Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2016 08:15 ET

Regina Housing Starts Continue to Trend Lower in February

REGINA, SASKATCHEWAN--(Marketwired - March 8, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,280 units in February compared to 1,309 in January, 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 edged lower in February for the third consecutive month after an upward trend in single-detached starts was more than offset by a declining trend in multi-family construction. The overall trend in housing starts has been below the 2,000 level since February 2015, as weaker economic conditions have prompted local builders to focus on managing their inventory of complete and unsold 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 1,511 units in February, up from 877 in January. Actual housing starts nearly doubled in February after both single-detached and multi-family starts recorded significant gains from the same month a year ago.

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/1045984_Regina_ENG.pdf

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