MONTRÉAL, QUÉBEC--(Marketwired - May 9, 2016) - Housing starts in Quebec were trending at 31,577 units in April, compared to 32,255 units in March, 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 slight downturn in the trend of housing starts in Quebec was observed in both the multifamily, and especially apartment market segments," 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 27,423 units in April, down from 29,696 in March.
Preliminary housing starts data is also available in English and French at the following link:
Preliminary Housing Starts Tables.
As Canada's authority on housing, CMHC contributes to the stability of the housing market and financial system, provides support for Canadians in housing need, and offers objective housing research and information to Canadian governments, consumers and the housing industry.
Additional data is available upon request.
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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/53631er.pdf