Housing Starts Trending Up in the Hamilton CMA

Housing Starts Trending Up in the Hamilton CMA


Housing starts in Hamilton Census Metropolitan Area (CMA) were trending at 3,044 units in May compared to 3,040 units in April, 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 trend in Hamilton's total housing starts remained practically unchanged in May 2013 relative to the previous month. Hamilton CMA residential construction activity in the past three months has been consistently signalling a stable local housing market," said Abdul Kargbo, CMHC's Senior Market Analyst for Hamilton and Brantford CMAs.


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 2,853 units in May, up from 1,653 units in April

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