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Calgary’s Housing Starts Falling

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.

Date: 2008-01-15 10:11:22
Views: 212

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