Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

Regina housing starts trend lower in November

REGINA, SASKATCHEWAN--(Marketwired - Dec. 8, 2016) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,875 units in November compared to 1,885 in October, 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 November after an increasing trend in single-detached starts was more than offset by a declining trend in multi-unit construction," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan. "Compared to 2015, overall housing starts in Regina have unfolded at a slightly slower pace this year", added Mwale.

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 1,072 units in November, down from 1,615 in October. Total actual housing starts in November declined by 53 per cent from a year ago, led solely by the multiples sector where only 30 units were started compared to 145 in November 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/161208_CMHC_Regina_eng.pdf

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