Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

June 08, 2016 08:15 ET

Edmonton CMA Housing Starts Move Lower

EDMONTON, ALBERTA--(Marketwired - June 8, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 10,052 units in May compared to 11,809 in April, 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 declined in May as the pace of the both single-detached and multi-unit housing starts moved lower. Elevated inventory in both segments of the market are contributing to the slower pace of construction," 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 9,773 units in May, down from 13,563 in April. Actual housing starts decreased 33 per cent year-over-year in May as both single-detached and multi-unit construction posted declines.

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, LinkedIn, Facebook, and YouTube.

Additional data is available upon request

(Ce document existe également en français)

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1058117a.pdf

Contact Information