Calgary’s Housing Starts Falling

Posted by Joe Samson & Associates on Tuesday, January 15th, 2008 at 9:11am.

This is almost a given following the performance of Calgary’s housing resale market. In 2007 builders have started to build 21% less homes compared to a record breaking year of 2006. According to CMHC the annual total for housing starts in Calgary was 13,505 units compared to 17,046 a year ago.

The primary decline took place in the single-family market where starts have dropped as much as 25.8%. The multi-family market hasn’t declined so much, it only dropped about 12.7% compared to 2006.

Is a sign to be worried about? In my opinion if the big player who are building the multi-family buildings aren’t worried about the future of Calgary’s real estate, why should I be concerned? I would sure hope that when several dozen investors decided to build multi-million dollar project in Calgary that they have done their homework.

Joe Samson, a Calgary REALTOR ® who has been helping clients to achieve their goals in the Calgary real estate market for many years now. Please visit some of his other web pages such as Silverado real estate.

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Last updated on: 2012-05-17 00:22:34

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