Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

March 08, 2016 08:15 ET

February 2016 Housing Starts in Trois-Rivieres

MONTRÉAL, QUÉBEC--(Marketwired - March 8, 2016) - Housing starts in the Trois-Rivières census metropolitan area (CMA) were trending at 431 units in February, compared to 550 in January, 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.

For a third consecutive month, housing starts trended down in the Trois-Rivières CMA. "The slowdown in construction was observed in both the multi-unit and single-detached housing segments. In fact, a high supply of units available on the resale and rental home markets contributed to limiting the start of new dwellings. As a result, reflecting the activity registered in 2015, housing starts should remain at relatively low levels this year and next," said Tania Bourassa-Ochoa, 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 227 units in February, down from 329 in January.

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.

(Ce document existe également en français.)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1045899a.pdf

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