MONTRÉAL, June 8, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 16,269 units in May compared to 15,559 in April 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 rebound in the trend in Montréal area housing starts observed in May was mainly attributable to the start of construction on several major rental projects, some of which are intended specifically for the seniors’ housing market. We forecast that the growth in this segment will help limit the decrease in activity anticipated on the new home market this year, especially in the case of condominiums,” said Geneviève Lapointe, 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 23,005 units in May, up from 12,373 in April. The significant variation in the annual rate was due to the multiple-unit housing segment, where ups and downs 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
May 2016
Montréal CMA1April 2016May 2016
Trend215,55916,269
SAAR12,37323,005
May 2015May 2016
Actual
May — Single-detached334277
May — Multiples1,0191,733
May — Total1,3532,010
January to May — Single-detached868872
January to May — Multiples3,6915,169
January to May — Total4,5596,041

Source: CMHC
1 Census Metropolitan Area
2 The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR). By removing seasonal ups and downs, seasonal adjustment allows for comparison of adjacent months and quarters. The monthly and quarterly SAAR and trend figures indicate the annual level of starts that would be obtained if the same pace of monthly or quarterly construction activity was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.
Detailed data available upon request

Montreal Preliminary Actual Housing Start Data by Intended Market
May 2015 – 2016
Montreal, CMA1Freehold-Single2Freehold-Multi2RentalCondoTotal
2015201620152016201520162015201620152016
Montreal Island2121131813344141295188678
Laval17202415033156739
North-Shore18814147434939581132365711
South-Shore6566578245019966161638508
Vaudreuil-Soulanges432922535131579574
Total Montreal CMA Starts3342771211725629513366101,3532,010

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 Island42405560561,5381,0216471,1742,285
Laval596554302036887343403506
North-Shore4294111432102285633033481,1031,532
South-Shore2302471852747714884904901,6761,499
Vaudreuil-Soulanges108109315541202335203219
Total Montreal CMA Starts8688724686291,2992,6771,9241,8634,5596,041

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.

Date Published: June 8, 2016