MONTREAL, QUEBEC--(Marketwired - Feb. 8, 2017) - Housing starts in Quebec were trending at 33,006 units in January, compared to 32,175 units in December, 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.
"The moderate growth of the Quebec economy will limit housing demand in 2017 and 2018," said Kevin Hughes, Regional Economist 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 31,475 units in January, down from 33,444 in December.
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/1085192_Quebec-e.pdf