New data is showing that some historic records are being set as part of a housing boom in Alberta.
The Canadian Mortgage and Housing Corporation (CMHC) has provided information which shows total housing starts in the province have reached 13,560 to date from January to April of this year. As a result, a new record during this time in Alberta’s history has been set for the most new homes under construction.
According to a press release, Alberta’s housing starts were up by 60 per cent in April of this year as compared to April of 2023, while the rest of Canada has seen a decrease of almost 10 per cent over the same time period.
ATB Financial’s Owl report is a daily insight report on trends happening in Alberta’s economy and a recent one also shows that 40 per cent more building permits have been issued in the first quarter of this year, setting an all-time record in Alberta’s history.
The boom is fueled in part by Alberta’s two largest cities. Calgary’s housing starts this year are up by 57 per cent over April of 2023, while Edmonton’s increase over a year ago is a whopping 64 per cent.