New home starts in Calgary and area drop significantly year over year

New home starts in the Calgary census metropolitan area (CMA) in May 2019 were less than half of the starts recorded in May 2018, according to the Canada Mortgage and Housing Corporation (CMHC). Only 812 new homes were started last month, compared to 1,649 starts in May last year. The total number of starts to the end of May 2019 reached 3,589 units, down from 4,912 starts in the first five months of 2018.

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