Housing starts decline

Housing starts in the Calgary area continue to decline compared to last-year’s record-breaking performance. According to data released
Tuesday by the Canada Mortgage and Housing Corporation, single-family starts in the Calgary Census Metropolitan Area were down 31 per
cent in August compared to August 2006. At the same time, multiple family starts, which include semi-detached units, rows and apartments,
were up 50.1 per cent. Combining the two categories, total housing starts were down by four per cent in August compared to last year. For the
year, single-family housing starts are down by 27.3 per cent for the fi rst eight months of 2007 compared to the fi rst eight months of 2006 while
the total housing starts have declined by 21.5 per cent.
“Single-detached starts last August were the highest on record for any August, so any comparison to this month will likely show a decrease,”
said Lai Sing Louie, senior market analyst in Calgary for CMHC.
Provincially, starts in Alberta’s seven largest centres totalled 3,353 units in August, almost four per cent higher than the previous year. Nationally,
urban starts in August totalled 16,771 units, an increase of about six per cent from a year earlier.
- Mario Toneguzzi ~ The Calgary Herald,

 Posted by Joe Samson

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