OTTAWA, April 9, 2013 Housing starts in Canada were trending at 189,742 units in March, according to Canada Mortgage and Housing Firm. The trend is a half year moving average of the monthly seasonally altered yearly rates ( SAAR ) One of housing starts.
"As predicted, the trend in total housing starts continued to moderate in March. Builders are adjusting to lower home demand and as a consequence, completed and unoccupied units per capita remain comparatively close to their historical average," expounded Mathieu Laberge, Assistant Chief Economic expert at CMHC.
CMHC uses the trend measure as a complement to the monthly SAAR of housing begins to account for considerable swings in monthly guesses and acquire a more complete image of the state of the housing market. In some cases, investigating only SAAR information can be fooling in some markets, as they happen to be mostly driven by the multiples section of the markets, which can often be quite fluctuating from one month to the following.
The stand-alone monthly SAAR was 184,028 units in March, up barely from 183,207 in Feb. The SAAR of urban starts reduced by 2.7 per cent in March to 157,217 units, controlled by a 6.6 % decline in single urban begins to 60,558 units. Multiple urban starts remained comparatively unchanged at 96,659 units in March.
March's seasonally changed annual rates of urban starts reduced in Ontario ( -15.7 percent ) and Quebec ( -13.5 % ). Urban starts increased in Atlantic Canada ( 27.1 percent ), the Prairies ( 13.8 per cent ), and British Columbia ( 13.1 per cent ).
Rustic starts2 were estimated at a seasonally adjusted annual rate of 26,811 units in March.
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