October 2012 Housing Starts in New Brunswick

Construction/Building — November 8, 2012

MONCTON, NEW BRUNSWICK--(Marketwire - Nov. 8, 2012) - Housing starts in New Brunswick were trending at 3,217 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 1,979 units in October, down from 5,788 in September.

"Residential housing starts for the month of October were lower compared to the same period last year as multiple starts, which have bolstered overall construction in the province during the first three quarters of the year, were down in both Fredericton and Moncton," said Claude Gautreau, CMHC's Senior Market Analyst for New Brunswick.

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, analyzing 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.

Multiple starts added 74 actual units in October of this year compared to 109 units during the same period last year. Single starts, with 89 actual units in October, were down from the 96 units reported last year. Year-to-date total starts have reached 2,238 actual units, up from 2,056 last year. The increase was mostly the result of a rise in construction of multi-residential dwellings in the Moncton CMA.

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.

Additional data is available upon request

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Preliminary Housing Start Data
October / 2011-2012
Province, Centres 10,000+			October 2011	October 2012
	Actual, urban centres¹
		October - Single-Detached	89	96
		October - Multiples	109	74
		October - Total	205	163
		January to October - Single-Detached	896	939
		January to October - Multiples	1,160	1,299
		January to October - Total	2,056	2,238
			September 2012	October 2012
	SAAR², urban centres¹
		Total	5,788	1,979
Source: CMHC
¹ Urban centres with a population of 10,000 and over.
² Seasonally Adjusted at Annual Rates
Detailed data available upon request.


New Brunswick Preliminary Actual Housing Start Data
October / 2011-2012

Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 100,000+

Moncton CMA	35	23	44	30	79	53
Saint John CMA	14	10	13	34	27	44


Urban Centres 50,000-99,999

Fredericton	35	36	52	10	87	46


Total Urban Starts¹	96	89	109	74	205	163

New Brunswick Preliminary Actual Housing Start Data
January - October / 2011-2012

Urban Centres	Single-Detached		Multiples		Total
	2011	2012	2011	2012	2011	2012
Urban Centres 100,000+

Moncton CMA	323	314	634	865	957	1,179
Saint John CMA	179	157	129	159	308	316

Urban Centres 50,000-99,999

Fredericton CA	285	310	352	220	637	520

Total Urban Starts¹	896	939	1,160	1,299	2,056	2,238

Contact Information

Market Analysis Contact:
Claude Gautreau
506-851-2742
Cell: 506-866-9002
cgautrea@cmhc.ca

Media Contact:
Patricia Montreuil
506-851-2229
Cell: 506-866-8047
pmontreu@cmhc.ca