Calgary housing starts to increase in 2012

Contraction expected this year

By Mario Toneguzzi

CALGARY —
After contracting this year, housing starts are forecast to bounce back in
Calgary in 2012, says an Altus Group Housing Report.

The report by the economic consulting firm says total starts in Calgary for 2011 are expected
to be 8,200 in 2011, falling from the 9,300 experienced in 2010. The forecast
for 2012 is 9,700 housing starts.

A key factor is job growth. The report says job recovery bypassed Calgary last year “but so
far in 2011 employment growth has shown sign of improvement” with forecast
increases of 19,400 this year and 17,300 in 2012.

In Alberta, housing starts are forecast to drop to 25,261 this year from 27,088 in 2010.
But the report forecasts starts to bounce back in 2012 to 27,625 units.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s