Single-detached housing starts improve in April
According to figures released by the Canadian Mortgage and Housing Corporation (CMHC) in May, housing starts in the Edmonton Census Metropolitan Area (CMA) totalled 355 units in April compared with 683 units in April 2008. After four months of activity so far this year, total housing starts have amounted to 1,116 units across Greater Edmonton, down from 2,998 units recorded during January to April of 2008.
Builders poured foundations for 206 single-detached homes in April, representing an increase of almost 16% from the 178 units started in April 2008. “This represents the first year-over-year improvement in single-detached activity since June 2007,” noted Richard Goatcher, CMHC’s Senior Market Analyst based in Edmonton. To the end of April, 607 single-detached homes began construction across Greater Edmonton, down from 835 units during the first four months of 2008.
Multi-family starts, which consist of semi-detached, row and apartment units, remained on a downtrend in April. A 26% year-over-year gain in row starts was offset by continued weakness in new apartment activity. Semi-detached, row and apartment starts totalled 149 units in April, representing a decrease of about 71% from the 505 multiple unit starts in the same month last year. Multiple starts have amounted to 509 units across Metro Edmonton from January through April, down nearly 77% from 2,163 multiple starts tallied in the first four months of 2008.
Housing starts in Alberta’s seven largest cities totalled 794 units in April, representing a decrease of 61% from 2,034 units in April 2008. All seven cities reported year-over-year declines.
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