ATB Financial’s Economics & Research Team
March 8, 2017
Housing starts offer a good way to assess economic confidence, as they give us an indication as to where we are in the economic cycle. After a rough January, homebuilders managed to find new projects in February, suggesting Alberta is starting to emerge from two years of recession.
Last month saw home builders start work on close to 27,000 homes; that’s a 40 per cent increase from the start of the year and a 17 per cent increase from the same month a year earlier. These figures are seasonally adjusted and reported at annualized rates—that is, as the number of homes that would be built over the course of a full year if the same pace of activity were maintained for 12 months. From February of this year to March of last, a total of 24,524 were built (based on the average of the 12 months)…