Real estate

The total value of building permits issued by Canadian municipalities rose 11.3% to $6.9 billion in December, following a 19.9% decline the previous month. Higher construction intentions for multi-family dwellings in Quebec, Ontario, British Columbia and Alberta explained the advance.

The value of building permits issued by municipalities was down 19.6% from October to $6.2 billion in November, falling below the $7-billion mark for first time since May 2015. The decrease was the result of widespread declines in both residential and non-residential sectors in most provinces, particularly Alberta.

Housing starts in Quebec  were trending at 35,814  units in December, compared  to  35,775  units  in  November,  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  Quebec  were  trending  at  35,936  units  in November,  compared  to  36,484  units  in  October,  according  to  Canada  Mortgage  and  Housing Corporation (CMHC).  The  trend  is  a six-month moving  average  of  the monthly  seasonally  adjusted nnual rates (SAAR) of housing starts.

Les municipalités ont délivré des permis de bâtir d'une valeur de 7,7 milliards de dollars en octobre, soit une hausse de 9,1 % par rapport au mois précédent. Il s'agit de la première augmentation en trois mois. La hausse des intentions de construction de logements multifamiliaux et d'immeubles institutionnels en Alberta est à l'origine de la majeure partie de la progression, puisque les entrepreneurs ont demandé des permis avant l'entrée en vigueur des changements au Code du bâtiment.

Highlights:

• National home sales rose by 1.8% from September to October.
• Actual (not seasonally adjusted) activity was little changed (+0.1%) compared to October 2014.
• The number of newly listed homes was up 0.9% from September to October.
• The Canadian housing market remains balanced overall.
• The MLS® Home Price Index (HPI) rose 6.7% year-over-year in October.
• The national average sale price rose 8.3% on a year-over-year basis in October; excluding Greater Vancouver and Greater Toronto, it increased by 2.5%.

Housing starts in Quebec were trending at 36,511 units in October, compared  to  35,327  units  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.