Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 08, 2016 13:08 ET

August Sees Slight Increase in Montreal Housing Starts Trend

MONTRÉAL, QUÉBEC--(Marketwired - Sept. 8, 2016) - Housing starts in the Montréal census metropolitan area (CMA) were trending at 16,066 units in August compared to 15,587 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.

"August saw an uptick in Montreal's housing starts trend, as construction began on some large downtown condo projects," said Francis Cortellino, CMHC Principal Market Analysis for Montreal. "Moreover, only the Island of Montréal recorded an increase in total housing starts so far this year".

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 18,048 units in August, up from 15,161 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/1068664e.pdf

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