CMHC released last week an update for housing starts in Alberta, and Lethbridge is ahead of where it was this time last year.
At the end of June last year, Lethbridge saw 46 single family homes and 6 multi-family homes started. At the end of last month, those numbers were up to 59 and 15, a total increase of 13 more units that had started construction.
Year-to-date stats were a different story. Single family housing starts for the first half of 2014 were down by nearly 20 compared to the same period in 2013. Multi-family units were up by 26, helping to boost the total housing starts by 7 and passing the 300 unit mark.
According to the Lethbridge Herald, the CHBA Lethbridge Region reports that overall figures are up 25% over last year’s numbers even despite the uncooperative weather. They also predict the summer weather we have now may encourage even more growth.
The CHBA Lethbridge Region suggested that the focus on the the multi-family units may be a way for builders to offer flexible housing options at affordable prices.
Are you interested in getting your hands on one of the 65 brand-new homes they started building last month? Contact us today, and we can help.