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JUNE 2014 HOUSING STARTS IN QUEBEC

JUNE 2014 HOUSING STARTS IN QUEBEC

Housing starts in Québec's urban centres were trending at 34,793 units in June,  compared to  35,118  in  May,  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 housing starts in Quebec is back to a more sustainable level. The  year-to-date total is in line with our forecast'' 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 32,119 units in June, down from 37,038 in May.

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Québec Landlords Association

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