Canada Mortgage and Housing Corporation

Canada Mortgage and Housing Corporation

July 09, 2015 08:15 ET

June 2015 Housing Starts in Edmonton

EDMONTON, ALBERTA--(Marketwired - July 9, 2015) - Housing starts in the Edmonton Census Metropolitan Area (CMA) were trending at 19,235 units in June compared to 19,078 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)(1) of total housing starts.

"The trend in housing starts increased in June as a decline in the pace of single-detached starts was more than offset by an increase in multi-family housing starts. Although the trend moved higher on a month-to-month comparison, actual single and multi-family housing starts were both down from their June 2014 levels," 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 15,372 units in June, compared to 14,445 in May. Actual housing starts totalled 1,337 units in June, down 11 per cent from the 1,504 starts recorded one year prior.

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.

Tables and a graph are available at the following address: http://media3.marketwire.com/docs/1016354_ENG.pdf

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