Calgary Region Housing Starts Soar in August

Posted on September 14, 2014 by Patrick Hospes

A surge in multi-family new home construction helped spike overall housing starts in the Calgary region in August.

Canada Mortgage and Housing Corp. reported Tuesday that total starts in the Calgary census metropolitan area rose by 65.7 per cent during the month from a year ago to 1,627 units. That was mainly due to a whopping 151 per cent hike in the multi-family sector to 1,032 units.

The single-detached market saw a jump of 4.2 per cent to 595 units.

Housing starts were trending at 18,963 in August compared with 18,322 in July, said the CMHC. The trend is a six-month moving average of the monthly seasonally-adjusted annual rates of total housing starts.

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