Monthly housing starts in the greater Edmonton area have increased on a year over year basis every month since June 2009... until now. According to a new report from CMHC Edmonton area builders took a breather in October starting 755 units compared to 947 last year and 873 in September. Condos and single family home starts were both down about 20% compared to last October.
So far this year builders have started 5300 single family homes, up 86% over activity recorded from January to October 2009.
“The industry is on track to approach the 6,000 unit mark in 2010, which is close to the 10-year annual average recorded from 2000 to 2009,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton.
My take on this.... inventory of new homes was depleted to almost nothing by the end of 2009. Builders were playing a bit of catch up this year, but the activity is actually right in line with the 10-year average. I would expect to see more 'normal' activity in the coming months.
I put together some graphs on the housing starts here:
http://blog.mastermaq.ca/2010/11/09/two-reasons-journalists-should-learn-to-love-excel/
I’m glad you linked to the actual report, rather than just the press release. Keep it up!
http://www.calgarydiscountrealestate.com/
More option means better for clients. Real Estate Board wants to help people. Thanks for bringing more options.