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Edmonton Real Estate Market (January 2012)

Housing starts in Edmonton strengthen in January

Edmonton, February 8, 2012 – According to preliminary figures released today by Canada Mortgage and Housing Corporation (CMHC), housing starts in the Edmonton Census Metropolitan Area (CMA) increased in January to 578 units compared with 363 in January 2011. The increase occurred in both the single-detached and multi-family sectors.

Single-detached starts in January increased by 53 per cent year-over-year to 314 units, up from 205 in January 2011. “The gain represents a strong start to the year for Edmonton’s single-detached builders,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton. “However, it should be noted that last year’s starts were hampered by heavy snow and cold temperatures which delayed production across the Capital region,” he added.

Multi-family starts, which consist of semi-detached units, rows, and apartments, increased by 67 per cent year-over-year in January to 264 units. Semi-detached starts in January, at 96 units, were double the tally a year prior. Row (townhouse) and apartment starts, meanwhile, increased from January of last year by 27 and 63 per cent, respectively. The 130 apartment units recorded in January were located in Edmonton City and were intended for the rental market.

Source: Canada Mortgage and Housing Corporation

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