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SEPTEMBER 2013 HOUSING STARTS IN QUÉBEC

SEPTEMBER 2013  HOUSING STARTS IN QUÉBEC

Housing  starts in  Québec's urban centres  were trending at  31,862 units  in  September,  compared  to  31,383  in  August,  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  particularly  weak  level  of  housing  starts  in  2013  reflects  a  less  favorable  home  building environment: moderate economic growth, an easing resale market and a relatively high supply of new homes,‖ 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 31,716 units in September, up from 29,943 in August

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Québec Landlords Association

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