MONTRÉAL, April 8, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 17,232 units in March compared to 22,048 in February 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 downward trend was essentially due to a decrease in the number of condominium starts. In this market segment the supply of units for sale remained high on both the new and existing home markets,” said Francis Cortellino, CMHC’s Principal, Market Analysis, for Montréal.

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 10,909 units in March, down from 15,374 in February. The significant variation in the annual rate was due to the multiple-unit housing segment, where notable fluctuations are often observed 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 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.

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Information on this release:

Media Contact:
Catherine Léger
514-283-7972
cleger@cmhc.ca

Additional data is available upon request.

*SAAR: Seasonally Adjusted Annual Rate

  Preliminary Housing Start Data
  March 2016
Montréal CMA1February 2016March 2016
Trend222,04817,232
SAAR15,37410,909
March 2015March 2016
Actual
March — Single-detached144157
March — Multiples774662
March — Total918819
January to March — Single-detached317307
January to March — Multiples1,8312,484
January to March — Total2,1482,791

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR).
Detailed data available upon request

Montreal Preliminary Actual Housing Start Data by Intended Market
March 2015-2016
Montreal, CMA1Freehold-Single2Freehold-Multi2RentalCondoTotal
2015201620152016201520162015201620152016
Montreal Island52062368449125477201
Laval11122822507515120
North-Shore66764050391013789182316
South-Shore41452029313810942201154
Vaudreuil-Soulanges21228260844328
Total Montreal CMA Starts1441577095101232603335918819

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types: semi-detached houses, row homes and duplexes).
Detailed data available upon request.

Montreal Preliminary Actual Housing Start Data by Intended Market
Year to Date / 2015-2016
Montreal, CMA1Freehold-Single2Freehold-Multi2RentalCondoTotal
2015201620152016201520162015201620152016
Montreal Island17123430349018262589111,201
Laval2424281761766151301279396
North-Shore14415558136136138124132462530
South-Shore8178369494212202213413596
Vaudreuil-Soulanges5138186668228368
Total Montreal CMA Starts3173071742404461,3181,2119262,1482,791

Source: CMHC
1 Census Metropolitan Area
2 Freehold homes refer to dwellings where the owner also holds the title of ownership to the land (single-detached houses and the following multiple-unit housing types).

Date Published: April 8, 2016