Driven by multi-unit projects, the streak of strong housing starts in Alberta continued in July.

The number of housing starts in Alberta came in at 52,171 in July (seasonally adjusted annual rate)—32% higher than the five-year average. The July pace is down from the all-time record of 69,085 set in May, but starts were still over 50K for the sixth month in a row.

The year-to-date (YTD) figure was 27% higher than the same seven months last year. About half of the starts have been in Calgary and 39% in Edmonton. Multi-unit starts were up by 33% versus 12% for single-detached homes.*

Alberta’s rapid pace of new home construction is taking place despite moderating (but still strong) population growth as homebuilders continue to play catch-up with past population spikes.

According to our latest estimate, the province is on track to build a record 55,000 new homes this year followed by around 49,000 in 2026. The current annual record was set in 2006 at just under 50K.

Both of Alberta’s two largest population centres saw starts slow in July by about 18%. Edmonton’s pace of new construction was, however, 33% higher YTD. In Calgary, the difference was smaller, but still positive, at +22%.

Nationally, YTD starts were up in July by 3%. Note that most of this is due to Alberta with starts falling by 2.3% in the rest of the country.

*Starts by dwelling type are for centres of 10,000+ only.

Answer to the previous trivia question: The U.S. purchased Alaska from Russia in 1867.

Today’s trivia question: Today is mail order catalog day. When did the Eaton’s mail order catalog start?