">VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 8, 2013) - Housing starts in British Columbia's urban areas1 were trending at 22,108 units in April compared to 22,660 in March according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)2 of housing starts.
"New home construction activity in British Columbia continued at a pace consistent with underlying fundamentals, including household formation, resale market conditions and modest employment gains," said Carol Frketich, CMHC's Regional Economist for British Columbia.
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 standalone monthly SAAR was 23,009 units in April, down from 24,364 in March.
Preliminary Housing Starts data is also available in English and French at the following link: http://www.cmhc.gc.ca/en/hoficlincl/homain/stda/index.cfm
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.
Follow CMHC on Twitter @CMHC_ca
1 Urban areas are centres with populations of 10,000 or more people.
2 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.
Additional data is available upon request.
(Ce document existe également en français)
To view the tables and graph accompanying this press release please click on the following link: http://media3.marketwire.com/docs/cmhc58bi.pdf
- US International News
- Budget, Tax & Economy
Market Analysis Contact
604-737-4095 or Cell: 604-209-6835
Canada Mortgage and Housing Corporation
604-737-4162 or Cell: 604-999-7190
Recommended for You
What did I learn from him? Business cannot be left alone to be just business, and, as I learned in Pretoria nearly 20 years ago, leaders ignore this bigger picture at their peril.Huffington Post
It's no coincidence that the same qualities that make your company a great place to work can also help you grow your business. Think about it: A great company culture means that you know how to keep your employees happy and productive. And if you have happy and productive employees, they will not…Huffington Post
SEOUL/BEIJING (Reuters) - Ssangyong Motor Co , a small, Indian-owned, South Korean sport utility vehicle maker, says it expects to invest nearly $1 billion on its line-up as part of a new strategic plan to break into the United States and Asian markets. The company, founded almost 60 years ago and…Reuters
Facebook has built an $8 billion business (at...Business Insider
By the end of 2013, the earth will contain more mobile devices than people. Yet when it comes to hiring the top talent, most companies are ignoring the mobile realm. In a world where humans are outnumbered by machines, it’s just not smart to overlook the smartphone. Obviously, people love their…Business 2 Community
CNBC's Jane Wells reads the fine print of the Congressional Budget Office report and reveals the CBO broke the country into five tiers of wage earners. The top 20 percent pay nearly 93 percent of all income taxes, according to the report. At the same t...CNBC Videos
FreedomPlus will offer loans of up to $35,000 to consumers with damaged credit scores, because it says it can predict whose scores will riseBusinessWeek
One big benefit of using credit is that you can dispute a charge if you believe you should not have to pay. Here's how to do it if you need to.Credit.com
B2B appointment setting campaigns can be a very stressful activity, especially if you are dealing with a myriad of things, like production of wares and management of your people. Still, you have to do it yourself, since this will affect your profitability in the long run. I mean, how will you be…Business 2 Community
Monsanto Co, the world's largest seed company, said Tuesday that a deal with Danish company Novozymes to form a long-term research and development alliance should accelerate the release of microbial-based products designed to improve crop production. The news helped to slightly lift shares in St.…Reuters
Air Canada announced it had placed a firm $6.5 billion order for 61 Boeing 737 MAX narrow-body aircraft, with options on 18 more planes and purchase rights for 30 others. Air Canada said the move would create "one of the world's youngest, most fuel-efficient and simplified airline fleets." "Our…AFP25 mins ago
A cancer patients says she is devastated her plan was canceled under Obamacare and is scrambling to find a new one - that will inevitably cost more.CNBC
The world's online poker giant is being locked out of New Jersey because of its ongoing ties to its indicted founder, Isai Scheinberg.Forbes
Pemex, the Mexican state-controlled petroleum company, may soon see an end to the government monopoly and allow private intervention into the Mexican oil industry. TheStreet's Dan Dicker tells Joe Deaux that despite corruption, there may be opportunities for U.S. oil firms in Mexico.TheStreet.com Videos
Oil futures close lower on a weekly jump in U.S. gasoline inventories that was about three times more than expected.MarketWatch
In a countersuit, the Beastie Boys demand compensation and the removal of a GoldieBlox ad featuring the song, , whose use, their suit says, shows little imaginationBusinessWeek
Taxes are a concern. Workers on an employer-sponsored plan pay their share of their monthly premium with pretax dollars. Plans bought through the exchanges are paid for with after-tax wages, which can ...The New York Times
Bondholders and large depositors in a failing bank could face losses as early as 2016 if Germany succeeds in accelerating tough new European rules to spare taxpayers from further bailouts. A day after European Union finance ministers met to try to build a single banking framework for the euro…Reuters
Incredible police video of a massive car pileup in Wisconsin shows drivers stranded along the road for hours as police tried to get to the injured.CNBC Videos