Calgary Housing Starts Decline by 9%

Total housing starts in the Calgary Census Metropolitan Area (CMA) are on track to decline nine per cent in 2013 to 11,700 units, down from 12,841 units in 2012. In 2014, total housing starts are forecast to rise 12 per cent to 13,100 units. While increases are expected for single-detached starts, multi-family starts will experience more pronounced gains in 2014 following the reduction this year. "Employment growth, rising incomes and strong net migration, combined with relatively low inventories in the new home market, will support an increase in total housing starts in 2014," said Richard Cho, CMHC's Senior Market Analyst for Calgary.

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