MONTRÉAL, QUÉBEC--(Marketwired - Dec. 8, 2016) - Housing starts in the Gatineau area were trending at 1,886 units in November, compared to 1,976 in October, 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 down slightly in November. "This decrease followed the start of several large housing projects over the past few months in the Gatineau area. Also, total housing starts from January to November showed an increase from the corresponding period in 2015. This was particularly the result of a more sustained housing demand and a lower inventory of new and existing homes," said Geneviève Lapointe, 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 1,179 units in November, down from 3,821 in October.
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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