Calgary housing starts plunge 60% year-over-year
New home construction fell sharply in April, with 1,257 starts marking a steep decline across all housing types.
New housing construction in Calgary hit a wall in April, with starts dropping to 1,257 units — a decline of nearly 60 per cent compared to the same month last year, according to Canada Mortgage and Housing Corp. statistics.
The slowdown affected all housing types, signaling continued weakness in the city's residential market. The figure underscores challenges facing Calgary's building sector as interest rates remain elevated and buyer confidence stays fragile.
The data adds to earlier signs of a cooling market: last week, a Calgary Herald analysis found that 77 per cent of homes sold at or below asking price in May, suggesting buyers hold more negotiating power than sellers.