Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

September 08, 2016 13:37 ET

Edmonton CMA Housing Starts Decline

EDMONTON, ALBERTA--(Marketwired - Sept. 8, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 10,028 units in August compared to 10,191 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) of total housing starts.

"The trend in total housing starts moved lower in August as the pace of both single-detached and multi-family starts declined. The trend was at its lowest level since 2012 as slower economic conditions have tempered housing demand," 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 7,087 units August, down from 8,513 in July. Total actual housing starts declined 51 per cent year-over-year in August as both single-detached and multi-unit construction decreased.

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/1068674a.pdf

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