June 2016 Housing Starts in Montréal

MONTRÉAL, July 11, 2016 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 15,087 units in June compared to 16,294 in May 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 slowdown in the housing starts trend observed in June in the Montréal CMA was mainly due to a decrease in rental housing construction”, said Francis Cortellino, CMHC’s Principal for Montréal. “This pause should be temporary, though, as we are still expecting activity in this market segment to be relatively strong this year 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 17,003 units in June, down from 23,044 in May. 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 June 2016  
Montréal CMA1 May 2016 June 2016
Trend2 16,294 15,087
SAAR 23,044 17,003
  June 2015 June 2016
Actual    
June — Single-detached 235 304
June — Multiples 1,880 1,172
June — Total 2,115 1,476
January to June — Single-detached 1,103 1,176
January to June — Multiples 5,571 6,334
January to May — Total 6,674 7,510

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
June 2015 – 2016  
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2015 2016 2015 2016 2015 2016 2015 2016 2015 2016
Montreal CMA Starts 235 304 105 164 878 219 897 789 2,115 1,476

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 CMA Starts 1,103 1,176 573 793 2,177 2,896 2,821 2,645 6,774 7,510

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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