QUÉBEC CITY, QUÉBEC--(Marketwired - Sept. 8, 2016) - Housing starts in the Saguenay census metropolitan area (CMA) were trending at 343 units in August, compared to 350 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.
"Activity on the new home market in the Saguenay area has remained essentially unchanged since the beginning of the year. In fact, the trend in housing starts remained rather weak from a historical standpoint. This is not surprising, however, given the significant supply of existing homes for sale or rent in the area," said Nicolas Bernatchez, Market Analyst at CMHC.
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 299 units in August, very slightly up from 296 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/1068686e.pdf