Modest Growth for Calgary Real Estate in the 2013
Calgary Housing - NEW HOME
New home starts surged in 2012, driven by low mortgage rates, strong employment and migration growth and declining supplies in the resale market.14 Housing starts are estimated to total 12,400 units in 2012, a 33 per cent rise over lacklustre 2011 figures. Starts activity was relatively weak throughout 2009-2011, and the renewed level of growth will bring starts in line with household formation estimates.
This year, the forecast 11,900 housing starts represent a decline of 4 percent compared to 2012. The decline is anticipated as multi-family builders reduce production levels in response to a higher number of units under construction, potentially driving up inventory.…