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May 01, 2017

Upswing seen in March Calgary home starts

Pepper Rodriguez

News Photo

Total housing starts in the Calgary Census Metropolitan Area (CMA) rose significantly to 1,145 actual units in March 2017, a 278 per cent increase from March 2016 when only 411 home constructions started.

According to the Canada Mortgage and Housing Corporation, single-family home starts in the city went up to 283 from 217 the previous March. Multi-family construction had the biggest impact, climbing to 862 units in March from 194 last year.

“We’re seeing an increase in housing starts for Calgary in single detached and multi-family,“ says Richard Cho a market analyst with CMHC. “The market supply on the resale side has come down so builders can increase activity.” NL

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