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Housing  starts  in  Quebec  were  trending  at  32,752 units  in November,  compared  to  32,656  units  in  October,  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 increased  pace of housing starts in November in Quebec  (measured by the seasonally adjusted annual rate) is  attributable to the start of several seniors’ residences in Montréal. The number of units in question  was  sufficiently strong to push up  the provincial rate,”  said  Kevin Hughes, CMHC’s Senior Economist for 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 37,110 units in November, up from 32,028 in October.

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Québec Landlords Association

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