July 2015 Housing Starts in Montreal
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 08/11/15 -- Housing starts in the Montreal census metropolitan area (CMA) were trending at 15,742 units in July, compared to 13,458 in June, 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.
"Housing starts in the Montreal area were trending up in July, once again thanks to the construction of seniors'' housing, particularly on the North Shore of Montreal," said David L''Heureux, Principal, Market Analysis, for the Montreal area. "With the aging of the population, demand for spaces in retirement homes is bound to grow over the coming years, which explains the significant increase in activity in this market segment this year," he added.
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 25,744 units in July, up from 25,182 in June.
Preliminary housing starts data is also available in English and French at the following link: .
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.
Follow CMHC on Twitter .
(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 were 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.
(Ce document existe egalement en francais.)
Tables and a graph are available at the following address:
Contacts:
Media Contact
Catherine Leger
514-283-7972
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Datum: 11.08.2015 - 06:15 Uhr
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News-ID 1378239
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