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JANUARY 2014 HOUSING STARTS IN QUÉBEC

JANUARY 2014 HOUSING STARTS IN QUÉBEC

Housing  starts in  Québec's urban centres  were trending at 31,256 units  in  January,  compared  to  32,077  in  December,  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 current rate of housing starts is in Quebec is more in sync with the  demographic potential than it was in recent years. It can be seen as a benchmark for the next few years'' said Kevin Hughes, CMHC Regional Economist for the province of Quebec.

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 26,711 units in January, down from 33,909 in December.

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