Alberta on Track for Record Housing Starts in 2024
Canada: Monthly data from the Canada Mortgage and Housing Corporation (CMHC) shows that Alberta is on pace for a record number of housing starts this year. From January to August, nearly 30,000 new homes have begun construction, marking a 44% increase compared to last year. In Edmonton, there were 11,924 housing starts, up 49% from 8,015, while Calgary saw 15,324 starts, a 34% increase from 11,407.
The report also highlighted that, as of June 30, the Alberta government has committed $182.4 million to 1,235 affordable housing units yet to be built, and $66.8 million to 451 units currently under construction. Additionally, around $52.1 million has been allocated to 250 affordable housing units completed since December 2023.
Source: Canada Mortgage and Housing Corporation (CMHC)