Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

November 08, 2016 08:15 ET

Edmonton CMA Housing Starts

EDMONTON, ALBERTA--(Marketwired - Nov. 8, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 9,717 units in October compared to 9,751 in September, 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 was flat in October, as the pace of both single-detached and multi- family construction were relatively stable. Weaker economic conditions and elevated new home inventory have led to a pull-back in housing starts, with starts now trending at their lowest level since early 2012," 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 13,243 units in October, up from 9,306 in September. Total actual housing starts rose six per cent in October as an increase in multi-family production more than off-set a decline in the single-detached market.

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/1075519a_tables_graph.pdf

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