New Calgary Homes Market Update December 2012

New Calgary Homes Market Update December 2012

Here’s the latest information to be released for single family detached and mult-family homes for the Calgary Metropolitan Area!

Single Family

• New home construction in the Calgary Metropolitan Area (CMA) for December 2012 declined 11 percent in a year over year comparison with December 2011

• New single family detached homes increased 14 percent in December 2012 year over year to 528 homes, from 465 in December 2011

• New home inventories decreased 12 percent to 440 homes in December 2012 year over year

• In 2012 new single-family detached home construction increased 17 percent over 2011, up to 5,961 from 5,084 homes

•  In 2012 new single family home construction increased 38 percent over 2011, up to 12,841 from 9,292 homes

Multi-Family

• New multi-family home construction (including semi-detached, apartments and rows) declined 33 percent to 338 homes, from 505 starts in December 2011

• Completed multi-family developments increased 30 percent year over year to 350 units

• Multi-family inventories decreased from 484 homes in November to 424 homes in December 2012

• In 2012 new multi-family home construction increased substantially to 6,880 homes from 4,208 homes in 2011

General

• Less listings in Calgary’s resale home market has decreased competition for new home builders

• Strong employment growth and an increase in income levels have sustained the growing demand for new Calgary homes

*Sourced from CMHC

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