EDMONTON, ALBERTA--(Marketwired - Oct. 11, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 9,742 units in September compared to 10,048 in August, 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 continued to decline in September as a slower pace in multi-family housing starts more than offset an uptick in single-detached construction. Employment losses, lower migration, and elevated new home inventory are tempering multi-family construction in Edmonton," 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 9,277 units in September, up from 7,276 in August. Total actual housing starts were down 28 per cent year-over-year in September as slower multi-family construction outweighed an increase in single-detached 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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To view the graph and tables associated with this release, please visit the following link: http://media3.marketwire.com/docs/1071953E.pdf