New housing starts rise in Calgary driven by multi-family activity

New home starts in Calgary rose over 12% year over year in September, driven by a 57% increase in multi-family apartment starts. Single-family, semi-detached, and row home starts declined significantly. Year-to-date starts across all housing types dropped nearly 16%. Rental units made up 39% of starts, with inventory of completed units up 42% from last year. Nationally, housing starts fell 11% monthly and 4% year to date.