Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

August 11, 2015 08:15 ET

July 2015 Housing Starts in Quebec

MONTRÉAL, QUÉBEC--(Marketwired - Aug. 11, 2015) - Housing starts in Quebec were trending at 30,075 units in July, compared to 28,251 units in June, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

"The notable rise in the rate of housing starts during the past two months has sustained the upward trend at the provincial level. This acceleration is attributable to the apartment segment, in particular to retirement homes, where construction is rising in anticipation of the imminent acceleration of population aging. These results are in line with our forecast, which calls for a rebound in activity in the second half of the year," said Francis Cortellino, CMHC Senior Analyst.

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 36,673 units in July, down slightly from 37,887 in June.

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.

Follow CMHC on Twitter @CMHC_ca

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR)-that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace were maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

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/1020679a.pdf

Contact Information

  • Media Contact
    Catherine Leger
    514-283-7972
    Mobile: 514-475-5165
    cleger@cmhc.ca