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OCTOBER 2014 HOUSING STARTS IN QUEBEC

OCTOBER 2014 HOUSING STARTS IN QUEBEC

Housing  starts  in  Quebec  were  trending  at  32,527 units  in October,  compared  to  32,713  units  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 pace of housing starts in recorded in October is  similar to the trend of the past six months. We expect the rate to remain stable for the remainder of the year,”  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 31,805 units in October, down from 34,811 in September.

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Québec Landlords Association

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