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May 2016 Housing Starts in Montréal

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 CMA1 April 2016 May 2016
Trend2 15,559 16,269
SAAR 12,373 23,005
  May 2015 May 2016
Actual    
May — Single-detached 334 277
May — Multiples 1,019 1,733
May — Total 1,353 2,010
January to May — Single-detached 868 872
January to May — Multiples 3,691 5,169
January to May — Total 4,559 6,041

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, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 21 21 13 18 13 344 141 295 188 678
Laval 17 20 2 4 15 0 33 15 67 39
North-Shore 188 141 47 43 49 395 81 132 365 711
South-Shore 65 66 57 82 450 199 66 161 638 508
Vaudreuil-Soulanges 43 29 2 25 35 13 15 7 95 74
Total Montreal CMA Starts 334 277 121 172 562 951 336 610 1,353 2,010

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, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal Island 42 40 55 60 56 1,538 1,021 647 1,174 2,285
Laval 59 65 54 30 203 68 87 343 403 506
North-Shore 429 411 143 210 228 563 303 348 1,103 1,532
South-Shore 230 247 185 274 771 488 490 490 1,676 1,499
Vaudreuil-Soulanges 108 109 31 55 41 20 23 35 203 219
Total Montreal CMA Starts 868 872 468 629 1,299 2,677 1,924 1,863 4,559 6,041

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.

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