According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Edmonton Census Metropolitan Area (CMA) totalled 758 units in April, down from 1,407 units in April of 2010. For the year-to-date, total housing starts reached 2,323 units, compared with 3,439 units in the first four months of last year.
Single-detached home builders across the Capital region began construction on 436 units in April, representing a decrease of 30 per cent from the 620 units started during the same month of 2010. “This time last year the industry was working hard to replenish depleted inventories, whereas this spring the volume of complete and unabsorbed units is considerably higher,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton. To the end of April, single-detached starts totalled 1,237 units, down by 39 per cent from the first four months of 2010.
On the heels of a strong performance in March, multi-family starts, which consist of semi-detached, row, and apartment units, decreased on a year-over-year basis in April by 59 per cent to 322 units. Activity last April was bolstered by a strong uptick in condominium apartment starts. On a year-to-date basis, multiple unit starts across Greater Edmonton were down by 24 per cent to 1,086 units compared with 1,425 units reported in January to April of 2010.
Across Alberta, housing starts in the seven largest centres decreased by 41 per cent year-over-year in April to 1,501 units. All centres with the exception of Grande Prairie reported lower activity compared with April 2010.
Read more here CMHC Monthly Report