Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 08, 2016 14:35 ET

Winnipeg Housing Starts Move Slightly Higher in August

WINNIPEG, MANITBOA--(Marketwired - Sept. 8, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 4,057 units in August compared to 4,000 in July, 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.

"Declining inventories and supply have stimulated an increase in production of single-detached homes," said Lai Sing Louie, CMHC's Regional Economist for the Prairie and Territories. "Completed and unsold single-detached units have been trending lower since February of this year," added Louie.

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 decreased to 4,065 units in August from 6,364 in July. Despite the decline from month-to-month in the SAAR measure, actual housing starts totaled 368 units in August 2016 nearly unchanged from the 367 units started in August 2015. After eight months, total housing starts reached 2,675 units compared to 2,847 a year earlier.

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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1069696a.pdf

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