July 2015 housing starts in Calgary
CALGARY, ALBERTA--(Marketwired - Aug. 11, 2015) - Housing starts in the Calgary Census Metropolitan Area (CMA) were trending at 13,215 units in July compared to 13,438 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)(1) of total housing starts.
"The trend in total housing starts in July declined slightly from June as single-detached construction edged lower, offsetting the modest gain in the multi-family segment. While the pace of construction had remained fairly stable from a month earlier, new home construction throughout 2015 has been held back by weaker labour market conditions, slower migration and higher supply levels," said Richard Cho, CMHC's Principal of Market Analysis for Calgary.
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