July housing starts up
Posted Aug 9, 2013 1:37 pm.
This article is more than 5 years old.
The construction of new apartment and condo units, has helped push up the number of housing starts in the Calgary area.
There were 575 new multi-family construction projects in July, compared to just 38 the previous year.
Canada Mortgage and Housing Corporation’s Richard Cho tells 660News, the tight rental market, might be a reason for the sharp increase.
“We are seeing some strong demand for housing, not just from people who’ve been moving here, or people who’ve been getting jobs, but also there may have been some people in the rental market that are having a harder time finding rental units, also deciding to make that jump into home ownership,” he says.
The number of new single family homes was down slightly in July, compared to 2012.
That reflects a softening building trend across the country.
