Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

October 2016 Housing Starts in Trois-Rivieres

MONTREAL, QUEBEC--(Marketwired - Nov. 8, 2016) - Housing starts in the Trois-Rivières census metropolitan area (CMA) were trending at 659 units in October compared to 689 in September 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 rate of residential construction in the greater Trois-Rivières area remained relatively high in October. Significant demand on the resale market was reflected on the new home market in the area. In fact, we forecast that the number of housing starts will be slightly higher in 2016 than last year," said Tania Bourassa-Ochoa, 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, 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 306 units in October, down from 1,191 in September.

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/1075492e.pdf

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