New Brunswick Housing Starts Trend Down Slightly in June

HALIFAX, NOVA SCOTIA--(Marketwired - July 11, 2016) - Housing starts in New Brunswick's urban centres were trending at 1,176 units in June compared to 1,206 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 housing starts.

"Total housing starts through the first half of 2016 are in line with what we saw over the same period last year," said Michael Edwards, Senior Market Analyst with CMHC's Atlantic Market Analysis Centre. "Starts of single-detached homes are up over last year, while starts of multi-family dwellings are down slightly" added Edwards.

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 929 units in June, down from 2,285 in May.

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 également en français)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1062071_ENG.pdf