Housing starts going strong in Alberta
Year-to-date starts were 41.9% higher than over the same period last year
By Rob Roach, ATB Economics 19 August 2021 1 min read
After decreasing in June, the number of seasonally adjusted housing starts* in Alberta increased by 6.7% in July.
Also encouraging is the fact that the average number of starts over the first seven months of 2021 is the highest it has been since 2015.
Year-to-date starts were 41.9% higher than over the same period last year and 24.8% higher than in 2019.
Starts in Calgary jumped by 23.8% in July, but pulled back by 8.7% in Edmonton.
Despite the monthly decline in Edmonton, starts were well above both 2020 (14.6%) and 2019 (14.5%) on a year-to-date basis. In Calgary, starts were 73.4% higher during the first seven months of 2021 than over the same period in 2020 and 53.6% higher than in 2019.
Nationally, housing starts declined by 3.2% in July but were 41.2% higher on a year-to-date basis compared to 2020.
*A housing start is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure, or an equivalent stage where a basement will not be part of the structure.
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