Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 09, 2014 08:15 ET

August 2014 Housing Starts In Edmonton

EDMONTON, ALBERTA--(Marketwired - Sept. 9, 2014) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 13,879 units in August compared to 13,213 in July, 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 total housing starts.

"The trend in total housing starts moved higher in August due to an increased pace of multi-family units. Elevated migration and a low vacancy rate have prompted builders to increase production, particularly in the apartment segment," said Christina Butchart, CMHC's Senior Market Analyst for Edmonton.

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 standalone monthly SAAR was 14,588 units in August, compared to 12,271 in July. Actual housing starts increased 48 per cent year-over-year in August.

Preliminary Housing Starts data is also available in English and French at the following link: Preliminary Housing Starts Tables

As Canada's national housing agency, CMHC draws on more than 65 years of experience to help Canadians access a variety of high quality, environmentally sustainable and affordable housing solutions. CMHC also provides reliable, impartial and up-to-date housing market reports, analysis and knowledge to support and assist consumers and the housing industry in making informed decisions.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request

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(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 was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

A graph and tables are available at the following link: http://media3.marketwire.com/docs/966857e.pdf.

Contact Information

  • Market Analysis Contact
    Christina Butchart, Senior Market Analyst
    (780) 423-8729
    cbutchar@cmhc.ca

    Media Contact
    Charles Daniel Mainville, Senior Communications Consultant
    (403) 515-2915
    cdmainvi@cmhc.ca