July 2015 Housing Starts in Sudbury
TORONTO, ONTARIO--(Marketwired - Aug. 11, 2015) - Housing starts in the Greater Sudbury Census Metropolitan Area (CMA) were trending at 192 units in July compared to 175 units in June according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) (1) of housing starts.
"The trend in housing starts for the month of July remained relatively flat as the drop in multiple-unit home starts mostly offset the increase in single-detached home starts in Sudbury. The limited population growth continues to restrain demand for new housing." said Aris Gianneskis, CMHC's Market Analyst for Sudbury.
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, analysing 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 was 285 in July compared to 298 in June due to fewer multiple starts in the month of July. All multiple starts were in Sudbury City in July while more than half of single-detached starts were in areas outside of Sudbury City.
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.
Follow CMHC on Twitter @CMHC_ca.
(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Additional data is available upon request.
(Ce document existe egalement en francais)
A table and a graph are available at the following address: http://media3.marketwire.com/docs/1020873e.pdf
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