July 2014 housing starts in Calgary
CALGARY, ALBERTA`(Marketwired ` Aug. 11, 2014) -
Housing starts in the Calgary Census Metropolitan Area (CMA) were trending at 18,330 in July compared to 18,695 in June, according to Canada Mortgage and Housing Corporation (CMHC). The trend is a six month moving average of the monthly seasonally adjusted annual rates (SAAR)[sup](1)[/sup] of total housing starts.
`The trend in total housing starts in July moderated from the previous month due to a decline in the pace of multi-family starts,` said Richard Cho, CMHC`s Senior Market Analyst for the Prairie and Territories Region. `While down from the previous month, the pace of housing starts remains elevated, supported by a multitude of factors including low new home inventories, low rental vacancies, gains in full-time employment, and rising incomes.`
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