Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 09, 2016 08:15 ET

Regina Housing Starts Trend Higher in July

REGINA, SASKATCHEWAN--(Marketwired - Aug. 9, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,468 units in July compared to 1,221 in June, 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 overall trend in Regina's housing starts moved up in July after both single-detached and multi-unit construction trended higher from the previous month. Nonetheless, total housing starts in 2016 have lagged last year's pace in the midst of weaker economic conditions and elevated new home inventory," 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 2,349 units in July, up from 1,749 in June. Total actual housing starts in July were up eight per cent from July 2015, after local builders initiated a similar level of multi-unit dwellings but increased production of single-detached units, compared to 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

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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1065244a.pdf

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