Housing starts in the Calgary Census Metropolitan area picked up in September.
Canada Mortgage and Housing Corporation says construction began on 10,533 new units in September. That’s an increase of nearly 1,500 from August’s 9,019.
CMHC credits, in particular, construction of multi-unit condo projects that began last month. Still CMHC the number of starts is below historical averages for Calgary due to elevated new home inventories and weaker economic conditions.
Construction of urban multi-unit dwellings such as townhomes, condos and apartments were also responsible for increases in most regions of the country. Ontario was the only province where starts declined.
CHMC say the seasonally adjusted annual rate of starts across the country for September reached 220,617, up from 185,201 in August.