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OCTOBER 2013 HOUSING STARTS IN QUEBEC

OCTOBER 2013 HOUSING STARTS IN QUEBEC

Housing  starts in  Québec's urban centres  were trending at 31 165 units  in  October,  compared  to  31 862  in  September,  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 prolonged nature of the current slowdown in residential housing starts in  Quebec attests to the combined impact of economic and market factors,‖ 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 30 524 units in October, down from 31 694 in September.

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Québec Landlords Association

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