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March 2016 Housing Starts in Montréal

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 CMA1 February 2016 March 2016
Trend2 22,048 17,232
SAAR 15,374 10,909
  March 2015 March 2016
Actual    
March — Single-detached 144 157
March — Multiples 774 662
March — Total 918 819
January to March — Single-detached 317 307
January to March — Multiples 1,831 2,484
January to March — Total 2,148 2,791

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, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 5 2 0 6 23 68 449 125 477 201
Laval 11 12 2 8 2 25 0 75 15 120
North-Shore 66 76 40 50 39 101 37 89 182 316
South-Shore 41 45 20 29 31 38 109 42 201 154
Vaudreuil-Soulanges 21 22 8 2 6 0 8 4 43 28
Total Montreal CMA Starts 144 157 70 95 101 232 603 335 918 819

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 17 12 34 30 34 901 826 258 911 1,201
Laval 24 24 28 176 176 61 51 301 279 396
North-Shore 144 155 58 136 136 138 124 132 462 530
South-Shore 81 78 36 94 94 212 202 213 413 596
Vaudreuil-Soulanges 51 38 18 6 6 6 8 22 83 68
Total Montreal CMA Starts 317 307 174 240 446 1,318 1,211 926 2,148 2,791

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).

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