Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Gatineau

MONTRÉAL, QUÉBEC--(Marketwired - June 8, 2016) - Housing starts in the Gatineau area were trending at 1,654 units in May, compared to 1,536 in April, 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.

Housing starts in the greater Gatineau area trended up for a third straight month in May. "The increase was observed mainly in the case of rental and condominium apartments. In fact, the growth in housing demand in the Gatineau area noted since the beginning of the year has allowed for the absorption of part of the inventory of available units and helped residential construction pick up," said Tania Bourassa-Ochoa, CMHC's Senior Market Analyst for the Gatineau area.

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 1,711 units in May, down from 1,969 in April.

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.

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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:

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