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10.5a2.5 2.5 0 1 0 0 3M17.5 10.5a2.5 2.5 0 1 0 0 3"/></symbol>77 <symbol id="i-link" viewBox="0 0 24 24"><path fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" d="M10 13a5 5 0 0 0 7.5.5l3-3a5 5 0 0 0-7-7l-1.7 1.7M14 11a5 5 0 0 0-7.5-.5l-3 3a5 5 0 0 0 7 7l1.7-1.7"/></symbol>78 <symbol id="i-chat" viewBox="0 0 24 24"><path fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" d="M21 12a8 8 0 0 1-8 8H6l-4 3V12a8 8 0 0 1 8-8h3a8 8 0 0 1 8 8z"/></symbol>79 <symbol id="i-report" viewBox="0 0 24 24"><path fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" d="M14 2H6a2 2 0 0 0-2 2v16a2 2 0 0 0 2 2h12a2 2 0 0 0 2-2V8zM14 2v6h6M8 17l3-4 2 2 3-5"/></symbol>80</svg>8182<a class="skip" href="#main">Aller au contenu</a>83<header class="topbar">84 <div class="topbar-inner">85 <a class="brand" href="/" aria-label="IMM1003 — accueil"><img class="brand-logo" src="/assets/brand/uqo-logo.png" alt="UQO" width="568" height="238"><span class="brand-sep"></span><span class="brand-text"><span class="brand-code">IMM1003</span><span class="brand-title">Éléments d’évaluation immobilière</span></span></a>86 <nav class="topnav" aria-label="Navigation principale"><div class="dd"><button type="button" aria-expanded="false" aria-haspopup="true">Séances <span class="caret" aria-hidden="true">▾</span></button><div class="dd-menu wide"><div class="dd-part"><i style="background:#2976bb"></i>Partie I — Fondements de l’évaluation immobilière</div><a href="/seance/01/" data-ch="01"><span class="pastille" style="background:#2976bb">1</span><span>Introduction à l'évaluation immobilière</span></a><a href="/seance/02/" data-ch="02"><span class="pastille" style="background:#2976bb">2</span><span>Le cadre professionnel au Québec</span></a><a href="/seance/03/" data-ch="03"><span class="pastille" style="background:#2976bb">3</span><span>Les principes fondamentaux de l'évaluation</span></a><div class="dd-part"><i style="background:#0f8b8d"></i>Partie II — Valeur, marché et données</div><a href="/seance/04/" data-ch="04"><span class="pastille" style="background:#0f8b8d">4</span><span>La valeur : concepts et types</span></a><a href="/seance/05/" data-ch="05"><span class="pastille" style="background:#0f8b8d">5</span><span>Le marché immobilier québécois</span></a><a href="/seance/06/" data-ch="06"><span class="pastille" style="background:#0f8b8d">6</span><span>Collecte et analyse des données</span></a><a href="/seance/07/" data-ch="07"><span class="pastille" style="background:#0f8b8d">7</span><span>Examen mi-session : révision des blocs 1 et 2</span></a><div class="dd-part"><i style="background:#cca424"></i>Partie III — Les trois méthodes d’évaluation</div><a href="/seance/08/" data-ch="08"><span class="pastille" style="background:#cca424">8</span><span>La méthode de comparaison — Partie 1 : principes et sélection des comparables</span></a><a href="/seance/09/" data-ch="09"><span class="pastille" style="background:#cca424">9</span><span>La méthode de comparaison — Partie 2 : ajustements et réconciliation</span></a><a href="/seance/10/" data-ch="10"><span class="pastille" style="background:#cca424">10</span><span>La méthode du coût</span></a><a href="/seance/11/" data-ch="11"><span class="pastille" style="background:#cca424">11</span><span>La méthode du revenu — Partie 1 : du revenu brut au RNE</span></a><a href="/seance/12/" data-ch="12"><span class="pastille" style="background:#cca424">12</span><span>La méthode du revenu — Partie 2 : le taux et le DCF</span></a><div class="dd-part"><i style="background:#6b4fbb"></i>Partie IV — Synthèse et pratique professionnelle</div><a href="/seance/13/" data-ch="13"><span class="pastille" style="background:#6b4fbb">13</span><span>Le rapport d'évaluation</span></a><a href="/seance/14/" data-ch="14"><span class="pastille" style="background:#6b4fbb">14</span><span>Révision générale et cas intégrateur</span></a><div class="dd-part">Enregistrements</div><a href="/videos/"><span class="pastille" style="background:var(--rouge)">▶</span><span>Séances vidéo — enregistrements Zoom, transcription synchronisée</span></a><div class="dd-part">Annexes</div><a href="/aide-memoire/"><span class="pastille">A</span><span>Aide-mémoire des formules</span></a><a href="/glossaire/"><span class="pastille">B</span><span>Glossaire</span></a><a href="/rapport/"><span class="pastille" style="background:var(--teal)">R</span><span>Rapport — Le marché de l’habitation au Québec</span></a></div></div><a class="nav-video" href="/videos/"><svg class="" aria-hidden="true"><use href="#i-video"/></svg> Vidéos</a><div class="dd"><button type="button" aria-expanded="false" aria-haspopup="true">Réviser <span class="caret" aria-hidden="true">▾</span></button><div class="dd-menu "><a href="/aide-memoire/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-formula"/></svg></span><span>Aide-mémoire<span class="dd-desc">Toutes les formules commentées</span></span></a><a href="/glossaire/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-book"/></svg></span><span>Glossaire<span class="dd-desc">Termes du métier, équivalents anglais</span></span></a><a href="/definitions/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-list"/></svg></span><span>Toutes les définitions<span class="dd-desc">Les formulations attendues aux examens</span></span></a><a href="/fiches/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-cards"/></svg></span><span>Fiches de révision<span class="dd-desc">Recto-verso, suivi d’acquisition</span></span></a><a href="/carte/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-network"/></svg></span><span>Carte du cours<span class="dd-desc">Les 14 séances et leurs objectifs en un coup d’œil</span></span></a><a href="/exercices/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-pencil"/></svg></span><span>Banque d’exercices<span class="dd-desc">Tous les exercices corrigés</span></span></a></div></div><div class="dd"><button type="button" aria-expanded="false" aria-haspopup="true">S’exercer <span class="caret" aria-hidden="true">▾</span></button><div class="dd-menu "><a href="/quiz/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-quiz"/></svg></span><span>Quiz et examens blancs<span class="dd-desc">QCM avec rétroaction, chronomètre</span></span></a><a href="/entrainement/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-dumbbell"/></svg></span><span>Entraînement<span class="dd-desc">Problèmes à données aléatoires, corrigés pas à pas</span></span></a><a href="/jeux/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-game"/></svg></span><span>Jeux de révision<span class="dd-desc">Association, vrai ou faux, remise en ordre</span></span></a><a href="/outils/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-calc"/></svg></span><span>Calculateurs<span class="dd-desc">Les formules en interactif</span></span></a><a href="/progression/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-progress"/></svg></span><span>Ma progression<span class="dd-desc">Lecture, quiz, objectifs, notes</span></span></a></div></div><div class="dd current"><button type="button" aria-expanded="false" aria-haspopup="true">Ressources <span class="caret" aria-hidden="true">▾</span></button><div class="dd-menu "><a href="/diapositives/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-slides"/></svg></span><span>Diapositives<span class="dd-desc">Les 14 présentations en ligne</span></span></a><a href="/videos/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-video"/></svg></span><span>Séances vidéo<span class="dd-desc">Enregistrements Zoom : chapitres, transcription, sous-titres</span></span></a><a href="/ressources/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-download"/></svg></span><span>Téléchargements<span class="dd-desc">Manuel, plan, TP, gabarits Excel</span></span></a><a href="/rapport/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-report"/></svg></span><span>Rapport marché QC<span class="dd-desc">Indices de prix, macro, abordabilité — 26 sections, 67 figures</span></span></a><a href="/bibliographie/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-bib"/></svg></span><span>Bibliographie<span class="dd-desc">Références citées</span></span></a><a href="/recherche/"><span class="dd-ico"><svg class="" aria-hidden="true"><use href="#i-search"/></svg></span><span>Recherche<span class="dd-desc">Tout le manuel indexé</span></span></a></div></div></nav>87 <div class="topbar-actions">88 <button class="icon-btn search-btn" type="button" data-action="search" aria-label="Rechercher"><svg class="" aria-hidden="true"><use href="#i-search"/></svg><span>Rechercher</span><kbd>⌘K</kbd></button>89 <button class="icon-btn" type="button" data-action="theme" aria-label="Thème clair ou sombre" title="Thème"><svg class="" aria-hidden="true"><use href="#i-sun"/></svg></button>90 <button class="icon-btn menu-btn" type="button" aria-label="Menu" aria-expanded="false"><svg class="" aria-hidden="true"><use href="#i-menu"/></svg></button>91 </div>92 </div>93 94</header>9596<main id="main" class="page">97 <div class="page-head"><div class="eyebrow">Le marché de l’habitation au Québec · Annexe A</div><h1>Notes méthodologiques</h1></div>98 <div class="two-col"><article class="prose"><h2 id="s-A-1" class="h-section"><span class="h-num">A.1</span><span class="h-text">L'IPP MLS<sup>®</sup></span><a class="h-anchor" href="#s-A-1" aria-label="Lien vers cette section">#</a></h2>99<p id="pA-1">L'IPP MLS<sup>®</sup> est produit par l'ACI à partir des transactions enregistrées dans les systèmes MLS<sup>®</sup> des chambres immobilières <span class="citation">(<a class="cite" href="/bibliographie/#aci2024" data-cite="aci2024">Association canadienne de l'immobilier, 2024</a>)</span>. Deux grandes familles de méthodes existent pour construire un indice de prix « à qualité constante » : les ventes répétées <span class="citation">(<a class="cite" href="/bibliographie/#bailey1963" data-cite="bailey1963">Bailey et al., 1963</a>; <a class="cite" href="/bibliographie/#caseshiller1987" data-cite="caseshiller1987">Case et Shiller, 1987</a>)</span>, qui suivent les reventes d'un même bien, et l'approche hédonique <span class="citation">(<a class="cite" href="/bibliographie/#rosen1974" data-cite="rosen1974">Rosen, 1974</a>)</span>, qui modélise le prix comme une fonction des attributs du bien. L'IPP MLS<sup>®</sup> relève de la seconde. Ses principales propriétés :</p>100<ul><li><strong>Approche hédonique.</strong> L'indice suit le prix d'une propriété de référence aux attributs constants (superficie, âge, nombre de pièces, localisation, etc.), estimé par régression ; il neutralise ainsi les effets de composition qui polluent prix moyens et médians.</li><li><strong>Prix de référence.</strong> Le <em>benchmark price</em> traduit l'indice en dollars : c'est la valeur estimée de la propriété de référence du marché considéré.</li><li><strong>Base et fréquence.</strong> Base 100 en janvier 2005 ; publication mensuelle, avec agrégats trimestriels et annuels, en versions brute et désaisonnalisée.</li><li><strong>Limites.</strong> Dollars courants ; couverture limitée aux transactions MLS<sup>®</sup> ; révisions possibles des données récentes ; le composite provincial pondère fortement les grands marchés (Montréal pour le Québec) ; certains segments ne sont pas publiés dans les petits marchés (« en rangée » en Estrie, Mauricie et Centre-du-Québec).</li></ul>101<h2 id="s-A-2" class="h-section"><span class="h-num">A.2</span><span class="h-text">Les séries FRED</span><a class="h-anchor" href="#s-A-2" aria-label="Lien vers cette section">#</a></h2>102<p id="pA-6">Les séries macroéconomiques proviennent de FRED (Federal Reserve Bank of St. Louis), qui rediffuse les données de l'OCDE et de Statistique Canada :</p>103<div class="center"><div class="table-wrap"><table class="tbl"><thead><tr><th>Série</th><th>Identifiant FRED</th></tr></thead><tbody><tr><td>Taux interbancaire 3 mois</td><td><code>IR3TIB01CAM156N</code></td></tr><tr><td>Rendement obligataire 10 ans</td><td><code>IRLTLT01CAM156N</code></td></tr><tr><td>IPC, glissement annuel</td><td><code>CPALTT01CAM659N</code></td></tr><tr><td>IPC, niveau (2015 = 100)</td><td><code>CANCPIALLMINMEI</code></td></tr><tr><td>Taux de chômage</td><td><code>LRUNTTTTCAM156S</code></td></tr><tr><td>PIB réel trimestriel</td><td><code>NGDPRSAXDCCAQ</code></td></tr><tr><td>Population totale</td><td><code>POPTOTCAA647NWDB</code></td></tr><tr><td>Taux de change CA/US</td><td><code>DEXCAUS</code></td></tr></tbody></table></div></div>104<p id="pA-7">Les séries d'IPC s'arrêtent en mars 2025 au moment de l'extraction ; les mesures réelles s'arrêtent donc à cette date. Le taux interbancaire 3 mois sert d'approximation du taux directeur de la Banque du Canada, dont la série FRED dédiée s'interrompt en 2023.</p>105<h2 id="s-A-3" class="h-section"><span class="h-num">A.3</span><span class="h-text">Mesures dérivées</span><a class="h-anchor" href="#s-A-3" aria-label="Lien vers cette section">#</a></h2>106<p id="pA-8">Le glissement annuel est le rapport de l'indice à sa valeur douze mois plus tôt, moins un. La croissance annuelle moyenne composée entre deux dates vaut <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mo stretchy="false">(</mo><msub><mi>I</mi><mi>t</mi></msub><mi mathvariant="normal">/</mi><msub><mi>I</mi><mi>s</mi></msub><msup><mo stretchy="false">)</mo><mrow><mn>1</mn><mi mathvariant="normal">/</mi><mi mathvariant="normal">Δ</mi></mrow></msup><mo>−</mo><mn>1</mn></mrow><annotation encoding="application/x-tex">(I_t/I_s)^{1/\Delta}-1</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:1.138em;vertical-align:-0.25em;"></span><span class="mopen">(</span><span class="mord"><span class="mord mathnormal" style="margin-right:0.0785em;">I</span><span class="msupsub"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.2806em;"><span style="top:-2.55em;margin-left:-0.0785em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mathnormal mtight">t</span></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.15em;"><span></span></span></span></span></span></span><span class="mord">/</span><span class="mord"><span class="mord mathnormal" style="margin-right:0.0785em;">I</span><span class="msupsub"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.1514em;"><span style="top:-2.55em;margin-left:-0.0785em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mathnormal mtight">s</span></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.15em;"><span></span></span></span></span></span></span><span class="mclose"><span class="mclose">)</span><span class="msupsub"><span class="vlist-t"><span class="vlist-r"><span class="vlist" style="height:0.888em;"><span style="top:-3.063em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mtight"><span class="mord mtight">1/Δ</span></span></span></span></span></span></span></span></span><span class="mspace" style="margin-right:0.2222em;"></span><span class="mbin">−</span><span class="mspace" style="margin-right:0.2222em;"></span></span><span class="katex-base"><span class="katex-strut" style="height:0.6444em;"></span><span class="mord">1</span></span></span></span>, où <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi mathvariant="normal">Δ</mi></mrow><annotation encoding="application/x-tex">\Delta</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:0.6833em;"></span><span class="mord">Δ</span></span></span></span> est l'écart en années. L'écart au sommet vaut <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><msub><mi>I</mi><mi>t</mi></msub><mi mathvariant="normal">/</mi><msub><mrow><mi>max</mi><mo></mo></mrow><mrow><mi>u</mi><mo>≤</mo><mi>t</mi></mrow></msub><msub><mi>I</mi><mi>u</mi></msub><mo>−</mo><mn>1</mn></mrow><annotation encoding="application/x-tex">I_t/\max_{u\le t} I_u - 1</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:1em;vertical-align:-0.25em;"></span><span class="mord"><span class="mord mathnormal" style="margin-right:0.0785em;">I</span><span class="msupsub"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.2806em;"><span style="top:-2.55em;margin-left:-0.0785em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mathnormal mtight">t</span></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.15em;"><span></span></span></span></span></span></span><span class="mord">/</span><span class="mspace" style="margin-right:0.1667em;"></span><span class="mop"><span class="mop">max</span><span class="msupsub"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.2952em;"><span style="top:-2.55em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mtight"><span class="mord mathnormal mtight">u</span><span class="mrel mtight">≤</span><span class="mord mathnormal mtight">t</span></span></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.2452em;"><span></span></span></span></span></span></span><span class="mspace" style="margin-right:0.1667em;"></span><span class="mord"><span class="mord mathnormal" style="margin-right:0.0785em;">I</span><span class="msupsub"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.1514em;"><span style="top:-2.55em;margin-left:-0.0785em;margin-right:0.05em;"><span class="pstrut" style="height:2.7em;"></span><span class="katex-sizing reset-size6 size3 mtight"><span class="mord mathnormal mtight">u</span></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.15em;"><span></span></span></span></span></span></span><span class="mspace" style="margin-right:0.2222em;"></span><span class="mbin">−</span><span class="mspace" style="margin-right:0.2222em;"></span></span><span class="katex-base"><span class="katex-strut" style="height:0.6444em;"></span><span class="mord">1</span></span></span></span>, sur séries désaisonnalisées. La volatilité annualisée est l'écart-type des variations mensuelles désaisonnalisées sur 24 mois, multiplié par <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><msqrt><mn>12</mn></msqrt></mrow><annotation encoding="application/x-tex">\sqrt{12}</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:1.04em;vertical-align:-0.1328em;"></span><span class="mord sqrt"><span class="vlist-t vlist-t2"><span class="vlist-r"><span class="vlist" style="height:0.9072em;"><span class="svg-align" style="top:-3em;"><span class="pstrut" style="height:3em;"></span><span class="mord" style="padding-left:0.833em;"><span class="mord">12</span></span></span><span style="top:-2.8672em;"><span class="pstrut" style="height:3em;"></span><span class="hide-tail" style="min-width:0.853em;height:1.08em;"><svg xmlns="http://www.w3.org/2000/svg" width="400em" height="1.08em" viewBox="0 0 400000 1080" preserveAspectRatio="xMinYMin slice"><path d="M95,702107c-2.7,0,-7.17,-2.7,-13.5,-8c-5.8,-5.3,-9.5,-10,-9.5,-14108c0,-2,0.3,-3.3,1,-4c1.3,-2.7,23.83,-20.7,67.5,-54109c44.2,-33.3,65.8,-50.3,66.5,-51c1.3,-1.3,3,-2,5,-2c4.7,0,8.7,3.3,12,10110s173,378,173,378c0.7,0,35.3,-71,104,-213c68.7,-142,137.5,-285,206.5,-429111c69,-144,104.5,-217.7,106.5,-221112l0 -0113c5.3,-9.3,12,-14,20,-14114H400000v40H845.2724115s-225.272,467,-225.272,467s-235,486,-235,486c-2.7,4.7,-9,7,-19,7116c-6,0,-10,-1,-12,-3s-194,-422,-194,-422s-65,47,-65,47z117M834 80h400000v40h-400000z"/></svg></span></span></span><span class="vlist-s"></span></span><span class="vlist-r"><span class="vlist" style="height:0.1328em;"><span></span></span></span></span></span></span></span></span>. Le bêta mobile est le rapport de la covariance mobile (60 mois) des variations Québec–Canada à la variance mobile des variations canadiennes. Le facteur saisonnier du mois <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>m</mi></mrow><annotation encoding="application/x-tex">m</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:0.4306em;"></span><span class="mord mathnormal">m</span></span></span></span> est la moyenne, sur toutes les années, de l'écart relatif entre indice brut et indice désaisonnalisé au mois <span class="katex"><span class="katex-mathml"><math xmlns="http://www.w3.org/1998/Math/MathML"><semantics><mrow><mi>m</mi></mrow><annotation encoding="application/x-tex">m</annotation></semantics></math></span><span class="katex-html" aria-hidden="true"><span class="katex-base"><span class="katex-strut" style="height:0.4306em;"></span><span class="mord mathnormal">m</span></span></span></span>.</p><nav class="ch-pager" style="padding:0;margin-top:40px"><a class="prev" href="/rapport/15/"><small>← Chapitre 15</small><b>Synthèse et implications</b></a><a class="next" href="/rapport/B/"><small>Annexe B →</small><b>Tableaux statistiques</b></a></nav></article><aside class="side"><h4>Dans cette section</h4><ol><li class="lvl2"><a href="#s-A-1">A.1 L'IPP MLS<sup>®</sup></a></li><li class="lvl2"><a href="#s-A-2">A.2 Les séries FRED</a></li><li class="lvl2"><a href="#s-A-3">A.3 Mesures dérivées</a></li></ol><h4>Rapport</h4><ol><li class="lvl2"><a href="/rapport/1/" class=""><span class="toc-num">1</span> Introduction</a></li><li class="lvl2"><a href="/rapport/2/" class=""><span class="toc-num">2</span> Données et méthodologie</a></li><li class="lvl2"><a href="/rapport/3/" class=""><span class="toc-num">3</span> Le contexte macroéconomique canadien</a></li><li class="lvl2"><a href="/rapport/4/" class=""><span class="toc-num">4</span> Le Québec dans le paysage canadien</a></li><li class="lvl2"><a href="/rapport/5/" class=""><span class="toc-num">5</span> Vingt ans de prix au Québec</a></li><li class="lvl2"><a href="/rapport/6/" class=""><span class="toc-num">6</span> Le cycle récent : pandémie, resserrement, divergence</a></li><li class="lvl2"><a href="/rapport/7/" class=""><span class="toc-num">7</span> Taux, inflation et prix réels : la transmission monétaire</a></li><li class="lvl2"><a href="/rapport/8/" class=""><span class="toc-num">8</span> Profils régionaux : les six marchés québécois</a></li><li class="lvl2"><a href="/rapport/9/" class=""><span class="toc-num">9</span> L'analyse par type de propriété</a></li><li class="lvl2"><a href="/rapport/10/" class=""><span class="toc-num">10</span> La saisonnalité des prix</a></li><li class="lvl2"><a href="/rapport/11/" class=""><span class="toc-num">11</span> Risque, distributions et co-mouvements</a></li><li class="lvl2"><a href="/rapport/12/" class=""><span class="toc-num">12</span> Les grands marchés du reste du Canada</a></li><li class="lvl2"><a href="/rapport/13/" class=""><span class="toc-num">13</span> Abordabilité : la charge hypothécaire</a></li><li class="lvl2"><a href="/rapport/14/" class=""><span class="toc-num">14</span> Dix faits stylisés du marché québécois</a></li><li class="lvl2"><a href="/rapport/15/" class=""><span class="toc-num">15</span> Synthèse et implications</a></li><li class="lvl2"><a href="/rapport/A/" class="active"><span class="toc-num">A</span> Notes méthodologiques</a></li><li class="lvl2"><a href="/rapport/B/" class=""><span class="toc-num">B</span> Tableaux statistiques</a></li><li class="lvl2"><a href="/rapport/C/" class=""><span class="toc-num">C</span> Glossaire</a></li><li class="lvl2"><a href="/rapport/D/" class=""><span class="toc-num">D</span> Chronologie du marché et de la politique du logement, 2005–2026</a></li><li class="lvl2"><a href="/rapport/E/" class=""><span class="toc-num">E</span> Notes bibliographiques par chapitre</a></li><li class="lvl2"><a href="/rapport/F/" class=""><span class="toc-num">F</span> Questions de révision et exercices</a></li></ol><div class="toc-extra"><a href="/rapport/">← Sommaire et métriques</a></div></aside></div>118</main>119<footer class="site-footer">120 <div class="footer-inner">121 <div class="footer-brand">122 <img src="/assets/brand/uqo-logo-white.png" alt="UQO" width="140" height="59" style="width:140px;height:auto;margin-bottom:10px">123 <div class="brand-code">IMM1003</div>124 <div>Éléments d’évaluation immobilière</div>125 <div style="opacity:.7;margin-top:6px;font-size:.85rem">Automne 2026 · 3 crédits · premier cycle · 14 séances</div>126 <div style="margin-top:14px;font-size:.85rem">Simon-Pierre Boucher, professeur<br>Département des sciences administratives<br>Université du Québec en Outaouais<br><a href="mailto:simon-pierre.boucher@uqo.ca" style="display:inline;padding:0">simon-pierre.boucher@uqo.ca</a></div>127 </div>128 <div><h4>Étudier</h4><a href="/seance/01/">Séances</a><a href="/videos/">Séances vidéo</a><a 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