Housing starts across Alberta are expected to decline over the next two years.
We’re on pace to increase by 12 per cent this year to 40,400 units, but that goes down to 37,400 next year and 35,800 the year after.
Canadian Mortgage and Housing Corporation Regional Economist Lai Sing Louie says that while economic growth is predicted to remain relatively strong, the pace of job growth is expected to slow down, along with migration.
However, we’re expecting more houses up for resale, which will create competition for new home starts. The average resale price is up nearly five per cent to nearly $399,000.