Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

Regina Housing Starts Trend Lower in May

REGINA, SASKATCHEWAN--(Marketwired - June 8, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,066 units in May compared to 1,280 in April, 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 moved lower in May after a stable trend in single-detached construction was countered by a declining trend in multi-unit production. In 2016, total housing starts in the Regina CMA are forecast to range from 1,180 units to 1,470 units, constrained in large part by weak 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 1,145 units in May, up from 1,083 in April. While the SAAR measure increased from the previous month, total actual housing starts declined by 30 per cent in May compared to a year ago, due to a significant reduction in multi-unit starts.

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, LinkedIn, Facebook, and YouTube.

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/1058126a.pdf

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