Decline in Windsor housing start market for November

Windsor has seen a decline in housing start, despite the national trend being unchanged in November.

According to the Preliminary Housing Start Data by the Canada Mortgage and Housing Corporation (CMHC), Windsor is experiencing a 30 per cent decline in housing start as compared to last year’s November Data. This is also a decline compared to last month’s data which showed an increase of five per cent.

Vancouver is seeing a significant decline for a second consecutive month, “following a period of elevated construction activity earlier in this year,” said CMCH’s Chief Economist, Bob Dugan, in the press release.

“However, this decline was offset by modest gains in the multi-unit trend in most other major markets, including Toronto.”

According to CMCH’s press release, the national trend for housing starts in November 2019 was 219,047 units compared to 218,253 units in October 2019. As per the report, the national trend is measured on a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.

CMHC acts as Canada’s authority on housing. It contributes to the stability of the housing market and financial markets while providing support for Canadians in housing needs and offering objective housing research and information to Canadian governments, consumers and the housing industry.