Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2016 08:15 ET

Winnipeg Starts Continue to Trend Upward

WINNIPEG, MANITOBA--(Marketwired - July 11, 2016) - Housing starts in the Winnipeg Census Metropolitan Area (CMA) were trending at 3,605 units in June compared to 3,572 in May, 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 upwards, as a slight decline in the trend within the single-detached segment was offset by an increase in the trend for multiple starts," said Braden Batch, CMHC's Senior Market Analyst for Manitoba. "Rental construction continued to push multiple starts upwards, contributing to the overall increase in the trend from the previous month," added Batch.

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 3,969 units in June from 4,536 in May. Despite the decrease in the SAAR measure, actual housing starts totalled 344 units in June, representing an increase from 254 units started during the same month last year. This increase was driven entirely by the multi-family sector with the majority of the 191 multi-family units started in June intended for the rental market.

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/082a.pdf

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