TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Housing starts in the Kingston Census Metropolitan Area (CMA) were trending at 447 units in November compared to 438 units in October 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 increased slightly from the previous month due to a slight rise in the trend for single-detached and row home starts," said Aris Gianneskis, CMHC's Market Analyst for Kingston. "Ground oriented homes are the preferred choice so far this year in Kingston as they made up the majority of new units supplied to the market supported by low mortgage rates and growth in average weekly earnings."
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 410 units in November, down from 607 in October, due to less construction of both single-detached and multiple unit dwellings.
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.
Additional data is available upon request.
(Ce document existe également en français)
A table and a graph are available at the following address: http://media3.marketwire.com/docs/1079368tgeng.pdf