More housing needed in Calgary: CMHC [Video]

The Canada Mortgage and Housing Corporation (CMHC) says more housing is needed across the country to keep up with the increasing population, especially in Calgary.

Construction of new homes in Canada’s six largest cities remained stable at near all-time high levels last year, driven by a surge of new apartments – despite demand still outpacing supply for rental housing.

“There’s still room to build more,” said senior analyst Adebola Omosola, with CMHC.

“And the demand is so strong that the supply still isn’t keeping up with the pace of the demand that we’ve seen in Calgary.”

• Top real estate headlines, all in one place

• The information you need to know, sent directly to you: Download the CTV News App

The agency says combined housing starts in the Toronto, Vancouver, Montreal, Calgary, Edmonton and Ottawa regions dipped 0.5 per cent compared with 2022, totalling 137,915 units, as apartment starts grew seven per cent to reach a record 98,774 units.

…