CMHC Canada Housing Starts
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Canada Mortgage and Housing Corporation (CMHC) Housing Starts show the number of new housing projects that started during the reported month. The indicator characterizes the activity in the housing market and related sectors, including banking (mortgage loans), construction sector, etc.
The indicator is calculated by the Canada Mortgage and Housing Corporation. Its database includes more than 14,000 housing units.
Housing starts data is rarely interpreted in absolute terms, since construction is highly dependent on weather conditions, geographic location in the region, and time of the year. That is why analysts normally measure the indicator change for several months. Economists pay special attention to the following reference points when interpreting the indicator:
- an increase in demand for new homes points to the growth of the population welfare
- an increase in new housing constructions leads to an increase of employment in the construction industry
- an increase in demand for new homes may lead to an increased demand for other products needed to new home buyers, such as new furniture, appliances, etc. This may spur consumer activity and affect price indices
- the indicator growth may lead to an increase in the real estate market
Taking into account the above points, higher readings of housing starts may have a positive impact on the Canadian dollar quotes.
The chart of the entire available history of the "CMHC Canada Housing Starts" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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