Edmonton’s new home builders continued to ramp up production in March.
According to the Canada Mortgage and Housing Corporation (CMHC), housing
starts in the Edmonton Census Metropolitan Area (CMA) totalled 813 units
in March compared with 135 units in March 2009.
This represented the ninth
consecutive month of year-over-year improvements in housing starts.
Single-detached home builders started work on 513 units last month, almost five
times the 105 singles started in March last year. “The industry is attempting
to replenish single-detached inventories that have been driven to low levels
by a reduction in completions and relatively brisk demand,” noted Richard
Goatcher, CMHC’s Senior Market Analyst based in Edmonton. So far this year,
foundations were poured for 1,394 units compared with 401 singles recorded in
the first three months of 2009.
While apartment starts were up in March from the same month last year,
production levels so far are down by 64% from January to March of 2009 due to
persistently high inventories.
Housing starts in Alberta’s seven largest centres totalled 1,957 units in March
compared with 605 starts in the same month last year. Strong increases in
Calgary, Edmonton, Lethbridge and Red Deer easily countered year-over-year
declines in Wood Buffalo, Grande Prairie and Medicine Hat.
More information can be found online at www.cmhc-schl.gc.ca.