New Home Sales Survey: A new Initiative from Canada Mortgage and Housing Corporation

The pilot surveys commenced in February 2006 and will continue for a period of about nine months in five Census Metropolitan Areas (CMAs) across Canada: Halifax, Gatineau (Quebec part of the Ottawa-Gatineau CMA), London, Calgary and Victoria.

Having access to new home sales information and participating in the survey offer many benefits to home builders, developers, and market participants in general. New home sales data will:

• provide decision makers with an earlier indication of the market trends related to the demand for new housing since new homes are commonly sold before construction begins;
• complement the existing starts data;
• provide a better analysis of emerging trends in the market;
• help to identify market opportunities or risks; and
• enhance housing forecasts, which will benefit all market participants.

A CMHC representative will contact a sample of builders and developers and will provide more information regarding this new initiative.

After conclusion of the pilot, CMHC's intention is to implement a survey covering all major centres in Canada and to release new home sales information at the centre level on a monthly basis.

CMHC thanks the builders and developers in advance for their participation and support in order to make this new initiative a true success.

For further information, please contact a Market Analysis Centre (MAC) representative in your region or Mrs. Sandra Girard at National Office by telephone: (613) 748-4502 or email: nhss@cmhc.ca.