Marketwired, April 8, 2014 - Saskatoon - Housing starts in the Saskatoon Census Metropolitan Area (CMA) were trending at 2,627 units in March compared to 3,584 in February, 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 total housing starts. "The trend in total housing starts declined in March as local builders reduced production of both single-detached and multi-family units. The reduction represents a shift from the preceding six months when the pace of housing starts ranged between 3,500 and 3,800 units," said Goodson Mwale, CMHC's Senior Market Analyst for Saskatchewan.
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, analyzing 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 1,150 units in March, down from 2,224 in February. While fewer starts were reported in both the single-detached and multi-family sectors, the decrease in March was most pronounced among multiples where no row or apartment units were started.
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 high 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.