MONTRÉAL, QUÉBEC--(Marketwire - Feb. 8, 2013) - Housing starts in Province were trending at 36,735 units in January, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts. The standalone monthly SAAR was 25,062 units in January, down from 35,599 in December.
"As forecasted, in Quebec, the pace of residential housing starts has been again weaker. Considering the economic context, the easing in the resale market and expected supply, we should expect a lower volume of activity this year," said Kevin Hughes, CMHC's Regional 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, analysing 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.
Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables
As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.
(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Additional data is available upon request.
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Preliminary Housing Start Data | ||||
January 2013 | ||||
Quebec, Centres 10,000+ | January 2012 | January 2013 | ||
Actual, urban centres1 | ||||
January - Single-Detached | 433 | 271 | ||
January - Multiples | 1,284 | 1,213 | ||
January - Total | 1,717 | 1,484 | ||
January to January - Single-Detached | 433 | 271 | ||
January to January - Multiples | 1,284 | 1,213 | ||
January to January - Total | 1,717 | 1,484 | ||
December 2012 | January 2013 | |||
SAAR2, urban centres1 | ||||
Total | 35,599 | 25,062 | ||
Source: CMHC | ||||
1Urban centres with a population of 10,000 and over. | ||||
2Seasonally Adjusted at Annual Rates | ||||
Detailed data available upon request |
Contact Information:
Kevin Hughes
514-283-4488
khughes@cmhc.ca
Media Contact:
Catherine Leger
514-283-7972
nlong@cmhc.ca