Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

April 08, 2016 08:15 ET

Housing Starts Decline in Edmonton

EDMONTON, ALBERTA--(Marketwired - April 8, 2016) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 11,648 units in March compared to 12,038 in February, 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 March as the pace of both single-detached and multi-family housing starts slowed. Single-detached housing starts have been trending down since March 2015 as rising new home inventory levels and a well-supplied resale market have prompted builders to slow production," 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 11,126 units in March, up from 8,069 in February. Actual housing starts declined 49 per cent year-over-year in March as both single-detached and multi-family housing starts moved lower.

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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To view the graph and tables associated with this release, please visit the following link:

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