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Downward trend continues for housing starts

May 8, 2018 | 9:59 AM

LETHBRIDGE – Housing starts continued to trend lower in Lethbridge in April, compared to 2017.

Canada Mortgage and Housing Corp. (CMHC) reported construction began during the month on 42 new homes in the Lethbridge Census Metropolitan Area. That’s a 12.5 per cent decrease from April of 2017.

That includes 24 single-family homes, down from 34, and 18 multiples, which was up from 14 a year ago.

For the year to date, the Lethbridge region has had 161 housing starts, down 14 per cent from last year’s 188. While the seasonally-adjusted annual rate, or SAAR, was higher compared to March, the six-month trend decreased.

Calgary showed an increase in housing starts, but Edmonton, Grande Prairie, Medicine Hat, and Red Deer were all lower, both on the year and for the month of April (except for Medicine Hat, which is roughly the same year-to-date).

Wood Buffalo, which was in the middle of a massive post-fire rebuild last year, is slowing down as well.