Bareland bill
flavour faves
New legislation to clarify condo issue
Plant the herbs you love at home
industry A6
donna balzer A23
recreational living feature a10 – A11
FREE may 17 to may 23 2013 issue 03-19
real estate news from industry experts
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Building on starts
Kelsey hipkin, Reporter/Photographer
Calgary housing starts increase between March and April kelsey hipkin
reporter/photographer
C
algary and Alberta seemed to have missed the memo on declining house starts in Canada. Starts decreased across the country in March and April, but not in the Calgary area, where starts increased both months. The Canada Mortgage and Housing Corporation (CMHC) reported 11,323 starts in the Calgary Census Metropolitan Area in April compared to 11,242 in March, a trend of sixmonth moving average of the monthly seasonally adjusted annual rates (SAAR) of total housing starts. “The trend in both single-detached
SINGLE FAMILY
and multi-family starts was fairly stable in April, keeping the pace of total housing starts comparable to the previous month,” said Richard Cho, CMHC’s senior market analyst for Calgary. “The decline of active listings in the competing resale market along with gains in employment and migration has helped support demand for new homes.” Meanwhile, ATB Chief Economist Todd Hirsch reported new home construction in Alberta reached 39,213 units in April, seasonally adjusted, compared to 34,900 in March. That makes it “one of the strongest months
APR11 MAY11 JUN11 JUL11 AUG11 SEP11 OCT11 3761 NOV11 2761 DEC11 2980 JAN12 3093 FEB12 3367 MAR12 3501 APR12 3842 MAY12 3817 JUN12 3646 JUL12 3535 AUG12 3486 SEP12 3114 OCT12 2586 NOV12 DEC12 1859 JAN13 2075 2048 FEB13 2727 MAR13 2977 APR13
4395 4616 4744 4630 4573 4753 4486
MLS® MONTH END INVENTORY* APR ‘11 – APR ‘13
*All statistics based on monthly data compiled by CREB® via MLS® activity.
Chaparral
$679,900
for housing construction in the last five years.” “Alberta’s new April housing starts point to two economic realities in the province,” Hirsch said. “The first is that despite some moderation in the pace of overall economic growth, consumers are still confident in their jobs and financial situations.” Hirsch said despite tightened mortgage rules in the summer of 2012, borrowing rates remain favourable. Also, construction activity is likely to remain a driver of the overall economy this year. “Even if the pace of housing starts
Calgary schools recognized for Youth Environment Grant
There were 11,323 housing starts in Calgary in April compared to 11,242 in March.
slows in the remaining eight months of the year, 2013 is almost certain to see home building far outpace the fiveyear average,” he said.
Starts A3
contents news briefs
A3
municipal
A8
Suburban growth report
mortgage rates
A8
CREB® STAFF
Commercial
A14
C
heritage
A14
algary’s Forest Lawn and William Aberhart High Schools were recognized with the Jack Leslie Youth Environment Grant, presented with a commemorative plaque and the $1,000 grant at a luncheon during The City of Calgary’s annual Eco-Leaders Youth Conference.
green living A3
Famous five
how to Guard your garage
map
B1
open houses
B23
riChmond hill
MLS C3562665 #60 Chapala Heath SE This immaculate luxury home is bound to impress! ®
$749,900
MLS C3565705 #119 Sierra Morena Co SW Nicely upgraded two storey walk-out in the estates w/triple garage! ®
A15
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