Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

Winnipeg Single-Detached Housing Starts Increase in April

WINNIPEG, MANITOBA--(Marketwired - May 9, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 3,333 units in April compared to 3,504 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.

"Total starts trended downward, reflecting an expected pull back in multi-family starts, however single-detached starts were well above average in April", said Braden Batch, CMHC's Senior Market Analyst for Manitoba. "This follows strong sales in Winnipeg's existing home market so far this year."

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 3,535 units in April from 1,966 units in March. Actual single detached starts increased 26 per cent year-over-year while multi-family starts decreased 70 percent. By tenure, 30 per cent of starts in April were aimed at the condo market, 7 per cent were intended for the rental market, and the remaining share were homeownership units.

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)

To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1053810e.pdf.

Contact Information