Real Estate — November 8, 2012October 2012 Housing Starts in Sudbury
THUNDER BAY, ONTARIO--(Marketwire - Nov. 8, 2012) - Housing starts in the Greater Sudbury, Census Metropolitan Area (CMA) were trending at 604 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) 1 of housing starts. The standalone monthly SAAR was 1,080 units in October, up from 401 in September.
"After ten months in 2012, single-detached starts continue to trail 2011 levels as do multi-family. Less-than-expected employment growth has been a key factor why single-detached construction has trailed off in Sudbury this year," noted Warren Philp, CMHC's Market Analyst for Sudbury.
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.
Sixty-eight multi-family units started in October combined with only twenty-seven single-detached starts. Year-to-date total starts have now reached 413 units with 163 of those units being semi-detached, row and or apartment units.
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.|
To view the figures associated with this press release, please visit the following link:
Additional data is available upon request.
(Ce document existe également en français)
Latest Industry Press Releases
October 2013 Rental Market in Prince Edward Island (2013-12-12)
October 2013 Rental Market in Halifax (2013-12-12)
October 2013 Rental Market in Moncton (2013-12-12)
October 2013 Rental Market in Saint John (2013-12-12)
October 2013 Rental Market in St. John's (2013-12-12)
October 2013 Rental Market in New Brunswick (2013-12-12)
October 2013 Rental Market in Charlottetown (2013-12-12)
October 2013 Rental Market in Nova Scotia (2013-12-12)
Empire Industries Announces Stock Option Grants (2013-12-10)
November 2013 Housing Starts in Halifax (2013-12-09)
November 2013 Housing Starts in New Brunswick (2013-12-09)
November 2013 Housing Starts in St. John's (2013-12-09)
November 2013 Housing Starts in Prince Edward Island (2013-12-09)
Superior Plus Announces December 2013 Cash Dividend (2013-12-05)
|MOST POPULAR STORIES|
|TODAY’S TOP CONSTRUCTION PROJECTS|
These projects have been selected from 387 projects with a total value of $7,314,102,807 that Reed Construction Data Building Reports reported on Wednesday.
$150,000,000 Whitby ON Tenders
$100,000,000 Brampton ON Prebid
$66,000,000 Peterborough ON Prebid
- VIDEO: Construct Canada 2013 CEO Power Breakfast
- LEED Platinum should be for top-tier projects: panel
- Lakeview HLPS Project
- Contractors need to carefully plan for projects, recommends lawyer panel
- Montreal rail junction realignment completed in tight window
- Toronto housing not cooling off, says BMO
- OCOT review panel objections still open until tomorrow
- Canadian hiring expected to remain stable: survey
- Journal of Commerce Update for the week of December 16th, 2013
- New Westminster Development
- Natural gas generating facilities planned
- Refinery costs jump by $2.8 billion
- Employers must be aware of liability at holiday office parties
- New charges needed for infrastructure
- Skills Training at BCIT
- Auditor generals weigh in on value of P3s
- Low lead requirements kicking in next year
- Mental heath and workplace psychology must be addressed
- Edmonton International Airport mall takes shape
- University of Winnipeg building an apartment complex