Housing starts in Calgary bottom out
Posted May 9, 2011 1:38 pm.
This article is more than 5 years old.
The sound of hammers and saws at new housing sites in Calgary was muted in the month of April.
Canada Mortgage and Housing reports a drop in the total number of housing starts.
Work on single detached units was down 35 percent in April, compared to the same period a year ago. Multi family starts were even worse, down 48 percent.
Year to date, house construction activity is down roughly 40 percent.
Among the reasons being sited for the decline is a glut of homes on the resale market.
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