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JULY 2015 HOUSING STARTS IN QUEBEC

JULY 2015 HOUSING STARTS IN QUEBEC

Housing  starts  in  Quebec  were  trending  at  30,075  units  in  July, compared to 28,251  units in June, 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 notable rise  in the rate of housing starts  during the  past two months has sustained the upward trend at the provincial level.  This acceleration  is attributable to the  apartment segment, in particular to retirement homes, where construction is rising in anticipation of the imminent acceleration of population aging. These results are in line with our forecast, which calls for a rebound in activity in the second half of the year,” said Francis Cortellino, CMHC Senior Analyst.

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 36,673 units in July, down slightly from 37,887 in June.

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Québec Landlords Association

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