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CMHC release their monthly report on new home construction in the greater Edmonton area today. As we’ve seen for a number of months, new home starts are down from last year:

“This time last year the industry was working hard to replenish depleted inventories, whereas this spring the volume of complete and unabsorbed units is considerably higher,” noted Richard Goatcher, CMHC’s Senior Market Analyst for Edmonton.

Here are some highlights from the report:

• Builders started work on 758 units in April, down from 1,407 units last April. For the year-to-date, total housing starts reached 2,323 units, compared with 3,439 units in the first four months of last year.
• To the end of April, single-detached starts totalled 1,237 units,
  down by 39% from the first four months of 2010.
• Multi-family starts decreased on a year-over-year basis in April by 59% to 322 units. Activity last April was bolstered by a strong uptick in condominium apartment starts. On a year-to-date basis, multiple unit
  starts were down by 24% to 1,086 units compared with 1,425 units
  reported in 2010.

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