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| U Condos Construction - June 2013 |
Housing starts in the Barrie Census Metropolitan Area (CMA) were trending at 834 units in May compared to 782 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.
"Housing starts were up in the Barrie CMA during the month of May, after falling in April. Starts of all types of housing picked up. In particular, single-detached homes increased significantly in Innisfil this year," said Abdellah Massaoudi, CMHC's Market Analyst for Barrie.
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 of housing starts was 1044 units in May, up from 294 in April.
Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables.
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