HALIFAX, NOVA SCOTIA--(Marketwired - April 8, 2016) - Housing starts in Halifax, Census Metropolitan Area (CMA) were trending at 1,390 units in March 2016 compared to 1,878 in February 2016 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 residential construction slowed in March," said Guillaume Neault, Principal Market Analyst, Atlantic. "But on a year-to-date basis actual construction levels remain higher than in 2015 for both single-detached and multiples" added Neault.
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 708 units in March 2016, down from 3,447 in February 2016.
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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1049863e.pdf
Contact Information:
Alana Milner
902-426-7470
amilner@cmhc.ca