Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

Regina Housing Starts Remain Stable in April

REGINA, SASKATCHEWAN--(Marketwired - May 9, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,286 units in April compared to 1,285 in March, 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 remained stable in April after an increasing trend in single-detached construction was countered by a declining trend in multi-unit production. The pace of Regina's housing starts so far in 2016 continues to be constrained by weaker economic conditions and elevated 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 1,091 units in April, up from 988 in March. While the monthly SAAR measure increased, total actual housing starts declined by 25 per cent in April compared to a year ago, following reductions in both single-detached and multi-unit production.

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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1053825a.pdf

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