November 2015 Housing Starts in Montréal

MONTRÉAL, December 8, 2015 — Housing starts in the Montréal census metropolitan area (CMA) were trending at 24,169 units in November, compared to 23,585 in October according, to Canada Mortgage and Housing Corporation (CMHC). The trend is a six-month moving average of the monthly seasonally adjusted annual rates (SAAR)1 of housing starts.

“The trend in Montréal CMA housing starts moved higher in November, once again thanks to the boom in rental housing construction,” said David L’Heureux, CMHC’s Principal, Market Analysis, for Montréal. “The condominium market, for its part, continued its downward trend, as a result of a high inventory of completed and unsold units.”

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 18,682 units in November, down from 22,120 in October. The significant variation in the annual rate was due to decreases in starts in the single-detached and multi-unit housing segments.

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.

1 All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) — that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace were maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

Follow CMHC on Twitter @CMHC_ca.

Information on this release:

Media Contact

Catherine Léger
514-283-7972
cleger@cmhc.ca

Additional data is available upon request.


Preliminary Housing Start Data
November 2015
Montréal CMA1 October 2015 November 2015
Trend2 23,585 24,169
SAAR 22,120 18,682
  November 2014 November 2015
Actual    
November — Single-detached 240 225
November — Multiples 2,257 1,376
November — Total 2,497 1,601
January to November — Single-detached 2,518 2,210
January to November — Multiples 14,708 14,523
January to November — Total 17,226 16,733

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
November / 2014-2015
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
Montreal Island 24 27 18 34 824 187 444 280 1,310 528
Laval 26 21 4 20 0 112 116 6 146 159
North-Shore 119 89 30 24 49 87 309 128 507 328
South-Shore 48 59 38 58 210 186 142 193 438 496
Vaudreuil-Soulanges 23 27 14 19 21 3 38 41 96 90
Total Montreal CMA Starts 240 223 104 155 1,104 575 1,049 648 2,497 1,601

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 / 2014-2015
Montreal, CMA1 Freehold-Single2 Freehold-Multi2 Rental Condo Total
  2014 2015 2014 2015 2014 2015 2014 2015 2014 2015
Montreal Island 153 150 255 140 1,789 1,627 5,640 3,694 7,837 5,611
Laval 207 166 154 115 92 647 510 779 963 1,707
North-Shore 1,294 1,012 368 333 943 2,104 1,599 1,273 4,204 4,722
South-Shore 634 604 442 450 849 1,681 1,533 1,237 3,458 3,972
Vaudreuil-Soulanges 230 276 143 137 93 76 298 232 764 721
Total Montreal CMA Starts 2,518 2,208 1,362 1,175 3,766 6,135 9,580 7,215 17,226 16,733

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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