Housing Report, 2023 Year in Review- Coming Soon, New Quarterly Reports

BILD Alberta is pleased to introduce the first installment of our market housing and rental report. This report will highlight housing activity across the province in 2023, including housing starts, rental trends, pricing, inventory, and population growth.

KEY HIGHLIGHTS

• In 2023, the housing market continued its momentum, particularly in the Calgary and Edmonton regions driven by population growth and elevated demand. 
• Small and mid-sized municipalities saw a modest decline in housing activity.
• Construction of purpose-built rentals continues to remain at all-time highs, primarily in the Calgary and Edmonton regions.
• Despite high residential construction activity, prices for housing and rentals are rising rapidly as inventory and vacancies remain below recorded ten-year averages.
• The surge in housing demand is attributed to Alberta’s increasing population, which continues to see record-breaking interprovincial and international migration.