Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

May 09, 2016 08:15 ET

Edmonton CMA Housing Starts

EDMONTON, ALBERTA--(Marketwired - May 9, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 11,813 units in April compared to 11,641 in March, 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 total housing starts.

"The trend in total housing starts moved up slightly in April as a slower pace of single-detached starts was more than offset by an increase in multi-unit production. Strength in the multi-unit sector is not expected to continue as rising inventory and an elevated number of units under construction should hold back production in the remaining months of 2016," said Christina Butchart, CMHC's Principal, Market Analysis 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 13,582 units in April, up from 11,126 in March. Actual housing starts declined 12 per cent year-over-year in April as lower single-detached production more than offset a modest increase in multi-unit starts.

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.

For more information, visit our website at www.cmhc.ca or follow us on Twitter, YouTube, LinkedIn and Facebook.

Additional data is available upon request

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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1053807a.pdf

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