Calgary is still an outlier among Canada’s major cities that are struggling to build new homes.
Calgary has supercharged its home construction industry as the city attempts to absorb the record influx of new Albertans entering the province from both abroad and other Canadian provinces, housing data show.
The southern Alberta city is an outlier among Canada’s major cities that are struggling to build new homes as they, too, continue to see an influx of newcomers.
Though Calgary is recovering from record-low housing inventory seen as recently as this past spring, demand is still outpacing demand, said Ann-Marie Lurie, chief economist with the Calgary Real Estate Board (CREB).
“We’re still playing catch-up,” Lurie said.
The construction industry’s record push to meet demand has been countered by Alberta’s record population growth over the past two years, which has only accelerated in 2024, according to the latest StatCan data.
More to come…