Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

February 09, 2015 08:15 ET

January 2015 Housing Starts in Edmonton

EDMONTON, ALBERTA--(Marketwired - Feb. 9, 2015) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 16,727 units in January compared to 14,705 in December, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)(1) of total housing starts.

"The trend in housing starts increased in January as the pace of construction for both single-detached and multi-family homes moved higher. Strength in the multi-family sector, which accounted for the majority of the increase, was driven by higher rental tenure apartment starts," said Christina Butchart, CMHC's Senior Market Analyst 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 24,420 units in January, compared to 14,490 in December. Actual housing starts totalled 1,832, up from 776 in January 2014. Most of the increase was due to a higher number of apartment starts, particularly rental apartments.

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.

Follow CMHC on Twitter @CMHC_ca

Additional data is available upon request

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(1) All starts figures in this release, other than actual starts and the trend estimate, are seasonally adjusted annual rates (SAAR) - that is, monthly figures adjusted to remove normal seasonal variation and multiplied by 12 to reflect annual levels. By removing seasonal ups and downs, seasonal adjustment allows for a comparison from one season to the next and from one month to the next. Reporting monthly figures at annual rates indicates the annual level of starts that would be obtained if the monthly pace was maintained for 12 months. This facilitates comparison of the current pace of activity to annual forecasts as well as to historical annual levels.

A graph and tables are available at the following link:

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