Calgary area builders are ramping up construction to meet the increased demand for housing. Low inventory, a tight rental market and high demand for entry-level housing are all factors resulting in total housing starts increasing on a year-over-year basis for the 7th straight month in April.
According to Richard Goatcher, Economic Analyst at CHBA-Alberta, single-detached starts in Greater Calgary increased 16% y/y in April to 630 units, representing the best month since February 2007.
In the multi-family sector, April starts jumped 84% from a year earlier to 962 units. Year-to-date (Jan-April) starts are up 135% y/y to 3,767.
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