Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

December 08, 2016 08:15 ET

Winnipeg housing starts rise in November

WINNIPEG, MANITOBA--(Marketwired - Dec. 8, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 4,657 units in November compared to 4,515 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.

"Total housing starts continued to trend higher in November," said Lai Sing Louie, CMHC's Regional Economist for the Prairie and Territories. "A number of new rental projects helped lift construction this month and the gap between production this year and last year continued to narrow," 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 increased to 5,372 in November from 3,963 units in October. Actual housing starts totaled 457 units in November 2016, up from 254 units started in November 2015. Year-to-date through November, total housing starts have amounted to 3,824 units compared to 4,114 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.

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Additional data is available upon request

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