We have been closely monitoring the surge in Alberta's home construction activity since last year. This is a key factor in the province's stronger economic trajectory compared to the national economy.
Alberta recorded 63,346 housing starts* in June, up 49% from a year earlier and maintaining a tally of over 50,000 annualized units for the fifth consecutive month. The year-to-date (YTD) increase has also been strong with starts up 31% over the half of the year, aided mostly by multi-unit projects (mainly for rental housing).
While Calgary accounted for nearly half of the YTD growth, starts in Edmonton reached a new monthly high in June. Meanwhile, other regions in the province are also experiencing rising activity, with starts outside of Calgary and Edmonton up by 34% YTD.
Alberta's robust pace of home construction is largely a response to builders catching up with population spikes since 2024. Alberta's performance is particularly notable as it contrasts sharply with the rest of the country; housing starts in Alberta are at all-time highs, whereas activity across the rest of the country is down 4.2% YTD and barely above pre-COVID levels.
This strong growth in home construction is likely bolstering the overall construction job market. Despite still-elevated vacancy rates, employment levels in Alberta's construction sector have made noteworthy strides this year. Through June, they have climbed nearly 10% YTD compared to a mere 1.3% gain observed in the rest of the country.
Although we anticipate activity to moderate over the remainder of the year, the latest June figures align with our annual forecast of a record 51,700 starts for this year. They are expected to temper to 47,300 units in 2026.
*All housing starts data in this article are seasonally adjusted at an annual rate.
Answer to the previous trivia question: According to the International Organization of Motor Vehicle Manufacturers, 92.5 million motor vehicles were manufactured globally in 2024.
Today’s trivia question: What is the average size of single-detached homes in Canada?
