Detached houses lead Calgary builds

July 6, 2018

New detached houses in Calgary are seeing higher starts, according to Canada Mortgage and Housing Corp. (CMHC).
A total of 384 single-family houses started in the Calgary census metropolitan area in May, up 4 per cent from the same month last year, CMHC reported.
The Calgary area single-family detached starts, year-to-date, are 1,649, up from 957 during the same period last year, said CMHC.
For the 16th consecutive month, communities in Calgary’s northwest outpaced all ends of the city in new construction of single-family homes.
With 40 starts in May, southwest Calgary doubled its detached house output from May 2017. There were 286 single-family homes under construction in southwest Calgary year-to-date last month. A year ago, there were 152.
In all, there are now 2,422 single-family homes in various stages of construction in the Calgary area, slipping 2 per cent from 2,368 in May 2017.
The average price on completed but unsold single-family homes in the Calgary area in May was $691,030, down from $761,714 a year earlier. Southwest Calgary posted the priciest average at $1.28 million, and northeast Calgary had the most affordable detached house price at $552,060, according to CMHC.