MONTRÉAL, QUÉBEC--(Marketwired - Sept. 8, 2016) - Housing starts in the Gatineau area were trending at 1,656 units in August, compared to 1,805 in July, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR) of housing starts.
Housing starts in the Gatineau area trended down in August. "The slowdown was essentially observed in the single-detached and semi-detached and row home segments. In fact, since the beginning of the year, construction of homes of this type has been relatively low, which contributed to the modest overall level of activity in the Gatineau area," said Geneviève Lapointe, CMHC's Senior Market Analyst for the Gatineau area.
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.
The stand-alone monthly SAAR was 1,351 units in August, down from 1,859 in July.
Preliminary housing starts data is also available in English and French at the following link:
Preliminary Housing Starts Tables.
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.
Additional data is available upon request.
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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1068658e.pdf