REGINA, SASKATCHEWAN--(Marketwired - Jan. 10, 2017) - Housing starts in the Regina Census Metropolitan Area (CMA) were trending at 1,891 units in December compared to 1,863 in November, 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 December after local home builders increased production of multi-unit dwellings," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan. "Builders in Regina continued to navigate the impact of relatively weaker economic and labour market conditions on housing demand in 2016, resulting in slightly fewer housing starts than in the previous 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 1,901 units in December, up from 1,061 in November. December's production pushed Regina's annual housing starts for 2016 to 1,563 units, a decrease of two per cent from 2015. On an annual basis, singe-detached starts were up 30 per cent from a year earlier, while multi-unit starts declined 17 per cent to their lowest level since 2011.
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
(Ce document existe également en français)
Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1082191a.pdf