Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 08, 2017 08:15 ET

Edmonton housing starts trend lower in January

EDMONTON, ALBERTA--(Marketwired - Feb. 8, 2017) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 9,585 units in January 2017 compared to 9,926 in December of 2016, 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 January, as the pace of multi-family construction declined. Elevated inventory in both the new and resale market held back activity in January," 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 6,493 units in January, down from 9,354 in December. Total actual housing starts in January declined 25 per cent from one year ago as production in both the single-detached and multi-family market recorded 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.

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Additional data is available upon request

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Tables and a graph are available at the following link:

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