Monday, June 09, 2008

Housing Starts Fall In Calgary

Total housing starts in the Calgary-area this year continue to climb, even though there was a decline in the month of May alone.

The number of starts fell 9% last month when compared to May 2007.
However, year-to-date housing starts are up 25% from the same period last year.

Multi-family construction is driving the numbers mainly because of continued condo construction activity in Airdrie and Cochrane.
In fact, the number of multi-family starts in May - over 1,000 units - is the highest figure for that month since 1977.


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