Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

May 2016 Housing Starts in Trois-Rivieres

MONTRÉAL, QUÉBEC--(Marketwired - June 8, 2016) - Housing starts in the Trois-Rivières census metropolitan area (CMA) were trending at 464 units in May, compared to 444 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 trended up slightly in May; how ever, residential construction remained at a significantly low level compared to recent years. "The Trois-Rivières housing market is still in an adjustment period, given the considerable inventory of new properties for sale and the relatively high vacancy rate on the rental housing market. In this context, builders are directing demand toward units that are already built rather than starting new projects," said Rosemarie Bégin, 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, analysing 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 732 units in May, up from 484 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.

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/1057893e.pdf

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