New home construction in Calgary continued its downward trend in April, with housing starts declining across all segments. According to the latest data from the Canada Mortgage and Housing Corp., the city recorded 1,257 starts last month, a drop of nearly 60 percent compared to April of the previous year.
Single-Family Homes Lead in Volume
Single-family detached homes accounted for the highest number of starts, with 515 units. However, this figure represents a decline of approximately 37 percent from April 2025. Despite the downturn, this segment remains the largest contributor to overall housing starts.
Apartment Segment Suffers Steepest Decline
The apartment segment, which includes condominiums for ownership and purpose-built rentals, experienced the most significant drop. In April, only 414 apartment starts were recorded, a decrease of nearly 76 percent year-over-year. This sharp decline highlights ongoing challenges in the multi-family housing market.
Row and Semi-Detached Homes
Row home starts fell by more than 50 percent, totaling 158 units. Meanwhile, semi-detached homes, which typically have the fewest monthly starts, saw 170 units started, a decline of 32 percent from April last year. This was the smallest percentage drop among all housing types.
Inventory Levels Reach Decade High
CMHC's report also noted a significant increase in completed and unabsorbed units. Overall inventory for all housing segments grew by more than 57 percent, reaching the highest level so far in the 2020s. Only apartment units saw a decrease in this metric, down about 49 percent year-over-year.
Prices Remain Resilient Despite Slowing Demand
Even with deteriorating demand, home prices have shown resilience. The average price for a new single-family detached home in Calgary rose nearly one percent year-over-year in April, reaching $882,715. However, shifts in price ranges are emerging. Year-to-date data through April 30 shows that 28 percent of absorbed single-family detached units were in the $550,000 to $699,999 range, up from 23 percent last year. In contrast, the $700,000 to $849,999 range accounted for 36 percent of absorbed units, down from 40 percent in the same period last year.
CMHC's data indicates that housing starts have been trending downward since last April, with occasional monthly spikes. The combination of rising inventory and declining starts suggests a cooling market, though price stability persists in certain segments.
