July 2016 Housing Starts in Kingston
TORONTO, ONTARIO--(Marketwired - Aug. 9, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 463 units in July compared to 363 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) of housing starts.
"The trend in housing starts in Kingston moved higher for the month of July due to an increase in both the single-detached and multiple-unit starts," said Aris Gianneskis, CMHC's Market Analyst for Kingston. "The relatively high employment level has been helping demand for housing, especially in the resale market where demand has been increasing faster than supply in recent months."
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 multiples segment includes apartments, rows and semi-detached homes.
The standalone monthly SAAR was 657 units in July, up from 434 in June, helped by both the strong rise in single-detached and apartment housing starts.
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 egalement en francais)
A table and a graph are available at the following address: http://media3.marketwire.com/docs/1065260e.pdf
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