HOUSING DATA

BILD Alberta is pleased to release the latest installment of our Market Housing and Rental Report, providing a comprehensive overview of housing activity across the province. This edition covers key trends from the first three quarters of 2024, including housing starts, rental market developments, construction types, pricing, and inventory.

KEY HIGHLIGHTS:

• Alberta recorded 33,577 housing starts year-to-date, surpassing the 10-year average and nearing historic highs.
  Year-to-date, housing starts are up 35% compared to 2023, maintaining a pace well above the decade-long trend.
• The Calgary and Edmonton regions continue to dominate housing activity, both exceeding their 10-year averages.
• Mid-sized municipalities such as Red Deer, Grande Prairie, and Medicine Hat are gaining momentum, with housing starts also surpassing their 10-year averages.
• Lethbridge saw a significant rebound, with housing starts up 305% from 2023 and now close to its 10-year average.
• Despite growth in mid-sized cities, the Calgary and Edmonton regions still account for 92% of all housing starts year-to-date.
• Purpose-built rentals are on the rise in mid-sized municipalities, now making up 33% of total housing starts.
• Housing inventory experienced a modest increase but remains below the 10-year average.
• Home prices continue to exceed 10-year averages, with most regions seeing increases compared to last year.

Media Inquiries
Danielle Murray
Director of Communications, BILD Alberta Association
danielle.murray@BILDalberta.ca
(780) 862-9789