Mar­ket set to in­crease

Calgary Herald - Calgary Herald New Condos - - Front Page - — Marty Hope

How dra­mat­i­cally has the prov­ince’s multi-fam­ily hous­ing mar­ket de­clined? Af­ter peak­ing at more than 20,000 in 2007, home­builders and de­vel­op­ers saw constructi­on starts of multi-fam­ily homes de­cline to more than 14,000 in 2008. But the im­pact of the eco­nomic down­turn re­ally hit home this year, with starts fore­cast to close at 4,900 this year, says Canada Mort­gage and Hous­ing Corp. That fig­ure will likely creep up to 6,200 starts in 2010 — about equal to 1997.

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