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Housing  starts in  Québec's urban centres  were trending at  35 443 units in  July,  compared to  34 694  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.

―Following  a  slowdown  in  June,  residential  construction  picked  up  the  pace  in  July,  especially  on account  of  the  activity  in  the  multiple-unit  housing  segment.  Like  in  previous  months,  the  start  of construction on a number of large residential projects is bringing about some shifts in activity, which will continue to affect the rate  of housing starts from now until the end of the year,‖ said  Kevin Hughes, CMHC’s 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.

he stand-alone monthly SAAR was 31 854 units in July, down from 32 041 in June.

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Québec Landlords Association

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