REGINA, SASKATCHEWAN--(Marketwired - Oct. 11, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,781 units in September compared to 1,706 in August, 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 higher in September, after local home builders increased production of both single-detached and multi-unit dwellings. While the trend measure was higher than CMHC's forecast range of 1,180 to 1,470 units for 2016, we expect the pace of housing starts in the Regina CMA to slow by year-end due to 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 1,434 units in September, down from 2,993 in August. While the SAAR measure declined from the previous month, total actual housing starts in September were up 47 per cent from September 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.
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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1071954e.pdf