TORONTO, ONTARIO--(Marketwired - Feb. 9, 2015) - Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 1,333 units in January, down from 1,379 in December 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 total starts slightly moderated in January 2015 compared to the previous month. The trend in both single-detached and row homes eased, but demand remained relatively robust. More jobs, low mortgage rates, and people moving to Barrie continue to support the new homes market." said Edgard Navarrete, CMHC's Market Analyst.
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 monthly SAAR of housing starts was 731 units in January, down from 2,549 in December. Apartment starts can vary significantly from month to month, adding to volatility within the SAAR measure. Apartment starts were unusually high in December, but none occurred in January.
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.
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| (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 également en français)
Tables and a graph are available at the following address: http://media3.marketwire.com/docs/991161_ENG.pdf
Contact Information:
Edgard Navarrete
416-218-3329
enavarre@cmhc.ca
Media Contact:
Beth Bailey
416-218-3355
Cell: 416-988-4615
bbailey@cmhc.ca