Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 11, 2016 08:15 ET

Edmonton CMA Housing Starts Move Lower

EDMONTON, ALBERTA--(Marketwired - July 11, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 10,166 units in June compared to 10,046 in May, 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 edged up slightly in June as the pace of multi-unit housing starts offset those in the single-detached segment," said Christina Butchart, CMHC's Principal, Market Analysis for Edmonton. "Despite the slight uptick, slower economic conditions, together with elevated inventory on both the new and competing resale market, have contributed to a slower pace of home construction this year."

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 10,155 units June, up from 9,773 in May. Actual housing starts decreased 35 per cent year-over-year in June 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, 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/075a.pdf

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