Housing starts in the Calgary region soared in February compared last year on the strength of a whopping increase in the multi-family sector, according to Canada Mortgage and Housing Corp.
The agency reported Monday that total starts in the Calgary census metropolitan area was up by 41.7 per cent from a year ago to 1,270 units. The single-detached market rose by 15.0 per cent to 559 units while the multi-family market up by 73.4 per cent to 711 units.
The CMHC also added housing starts were trending at 14,993 units in February compared with 14,322 in January. The trend is a six-month moving average of the monthly seasonally-adjusted annual rates of total housing starts.