EDMONTON, ALBERTA--(Marketwired - Jan. 10, 2017) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 9,907 units in December compared to 10,096 in November, 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 December, as the pace of multi-family construction declined. Year-to-date housing starts remained well below 2015 levels as elevated inventory on both the new and resale market held back activity in 2016," said CMHC Market Analyst Tim Gensey.
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 9,109 units in December, down from 11,664 in November. On a year-over-year basis, total actual housing starts declined two per cent in December as an increase in single-detached production was more than off-set by a decline in the multi-family 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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Tables and a graph are available at the following address: http://media3.marketwire.com/docs/eda.pdf