Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

Saskatoon's Housing Starts Move Higher in April

SASKATOON, SASKATCHEWAN--(Marketwired - May 9, 2016) - Housing starts in the Saskatoon Census Metropolitan Area (CMA) were trending at 2,496 units in April compared to 2,290 in March, 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 up in April after local builders increased production of multi-unit dwellings. Despite this increase, weak economic conditions and elevated inventory of new housing units will continue to be a constraining factor on the pace of housing starts in 2016," 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 2,807 units in April, up from 1,596 in March. The increase in overall actual housing starts in April was led entirely by the multiples sector where 177 units were started, compared to 19 in the same month one year prior.

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/1053833_ENG.pdf

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