Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

Winnipeg housing starts trend higher in October

WINNIPEG, MANITOBA--(Marketwired - Nov. 8, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 4,520 units in October compared to 4,433 in September, 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 trended higher in October as the pace of single -detached and multi-family construction increased from the previous month," said Lai Sing Louie, CMHC's Regional Economist for the Prairie and Territories. "Elevated inventories have impacted multi-family construction," 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 3,979 in October from 4,166 units in September. Actual housing starts totaled 344 units in October 2016, modestly down from 377 units started in October 2015. Year-to-date through October, total housing starts have amounted to 3,367 units compared to 3,860 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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1075537a_tables_graph.pdf

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