MONTRÉAL, November 8, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 20,604 units in October compared to 20,130 in September 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.

“As a result of the strong level of activity registered in September, the trend in housing starts in the Montréal CMA remained high in October, relative to recent months,” said Francis Cortellino, CMHC Principal Market Analyst for the Montréal. “Still, in 2016, the year will end with fewer starts than in 2015, mainly on account of the slowdown in condominium construction”.

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 15,204 units in October, down from 35,423 in September. 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.

 For more information, follow us on TwitterYouTubeLinkedIn and Facebook.

Information on This Release:

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

Additional data is available upon request.

* SAAR: Seasonally Adjusted Annual Rate

Preliminary Housing Start Data
October 2016
Montréal CMA1 September 2016 October 2016
Trend2 20,130 20,604
SAAR 35,423 15,204
  October 2015 October 2016
Actual    
October — Single-detached 221 248
October — Multiples 1,648 1,029
October — Total 1,869 1,277
January to October — Single-detached 1,985 2,084
January to October — Multiples 13,147 12,451
January to October — Total 15,132 14,535

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
October 2015 – 2016
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 20 28 2 4 311 216 367 267 700 515
Laval 11 25 0 10 6 6 126 0 143 41
North-Shore 100 97 40 27 152 57 362 28 654 209
South-Shore 62 67 41 74 66 144 92 138 261 423
Vaudreuil-Soulanges 28 31 27 28 10 0 46 30 111 89
Total Montreal CMA Starts 221 248 110 143 545 423 993 463 1,869 1,277

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, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 123 134 106 134 1,440 2,208 3,414 2,587 5,083 5,063
Laval 145 151 95 81 535 184 773 929 1,548 1,345
North-Shore 923 961 309 405 2,017 1,192 1,145 862 4,394 3,420
South-Shore 545 581 392 559 1,495 1,473 1,044 900 3,476 3,513
Vaudreuil-Soulanges 249 257 118 145 73 552 191 240 631 1,194
Total Montreal CMA Starts 1,985 2,084 1,020 1,324 5,560 5,609 6,567 5,518 15,132 14,535

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: November 8, 2016