Alberta single-detached and multi-family housing starts are expected to increase substantially over 2009, but resale housing activity is going to drop, according to a new Canada Mortgage and Housing Corporation outlook.
The 2010 Housing Market Outlook, Prairie Highlights suggests that while housing starts in Alberta will rise over last year, they will level off in the later half of this year.
Both single-detached and multi-family starts will see a modest growth in 2011, according to the report.
“Prairie housing starts are expected to rise again in 2011, but the growth rate is projected to ease under six per cent,” said Lai Sing Louie, CHMC’s regional economist.
The report also says that Alberta resale activity will drop by 11 per cent over 2009, but should increase by low single-digit percentages in 2011.