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August 2013 housing starts in Quebec

August 2013  housing starts in Quebec

Housing starts in Québec's urban centres were trending at 30,692 units in  August,  compared to  31,539  in  July,  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.

"While  the  trend  is  significantly  lower  than  a  year  ago,  it  has  remained  relatively  stable  in  recent months,  in  both  the  single-detached  and  multi-family  market  segments,"  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 28,240 units in August, down from 29,579 in July.

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Québec Landlords Association

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