LONDON, ONTARIO--(Marketwire - Dec. 10, 2012) - Housing starts in the Windsor, Census Metropolitan Area (CMA) were trending at 716 units in November, 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 standalone monthly SAAR was 652 units in November, down from 743 in October.
"Construction declined for all housing types in November. Starts had been above trend for several months so it is not unexpected to see lower activity last month," said Margot Stevenson, CMHC's Market Analyst for Windsor.
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.
Single-detached starts added 44 actual units in November 2012. As well, 12 semi-detached homes and 3 townhouses started compared to 51 single-detached homes, 24 semi-detached homes and nine townhouses reported in November of last year. Year-to-date total starts have reached 669 actual units with activity mainly in the single-detached market.
Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
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)
To view the figures associated with this press release, please visit the following link: http://media3.marketwire.com/docs/CMHC_Windsor1209.pdf.