Housing starts up again in April
Housing starts in Alberta were up 24.6% from March
By Siddhartha Bhattacharya, ATB Economics 26 May 2022 less than a minute
New home construction in Alberta remained on solid footing as housing starts (seasonally adjusted at an annual rate or SAAR) hit 40,371 units in April, up 24.6% from March.
With its third consecutive monthly gain, starts in Alberta stood just under the multi-year peak reached in November 2021. While dwelling starts improved slightly in Calgary, they reached a six-year high in Edmonton.
Relative to year ago, housing starts in the province grew 17.1% from last April and were 8.7% higher on a year-to-date basis.
It was also a favourable story nationally as housing starts in Canada jumped 7.6% in April after taking a breather in March. However, they remained significantly below 2021 levels, down 15.7% through the first four months of 2022.
With more interest rate hikes likely on the horizon, we expect both the provincial and national housing markets to cool later this year.
Answer to the previous trivia question: Jarome Iginla is the Calgary Flames’ all-time scoring leader at 1,095 points.
Today’s trivia question: Wayne Gretzky is the Oilers’ all-time scoring leader. Who is second on the list?