House buiiding a bright spot in sluggish Edmonton market
BY BILL MAH, EDMONTONJOURNAL.COMMAY 8, 2009 12:20 PMBE THE FIRST TO POST A COMMENT
EDMONTON - Homebuilders in the Edmonton area started 206 single-detached homes in April, a 16-per-cent increase over the 178 begun in the same month last year, according to preliminary figures released Friday by the Canada Mortgage and Housing Corporation.
"This represents the first year-over-year improvement in single-detached activity since June 2007," said Richard Goatcher, CMHC's senior market analyst.
Single-home starts was a bright spot in an otherwise dismal April, when total housing starts in the Edmonton census metropolitan area fell 48 per cent from the previous April to 355 from 683. But for the first four months of the year, single-detached home construction remains down from last year.
To the end of April, 607 single homes were under construction across Greater Edmonton, down from 835 houses during the first four months of 2008.
After four months, total housing starts for 2009 totalled 1,116, down more than 60 per cent from 2,998 for January to April of 2008.
Multi-family starts totalled 149 units in April, down 71 per cent from 505 in the same month last year.
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