Mid-sized municipalities saw declines in housing starts in 2023: BILD report

Aside from Red Deer, all mid-sized municipalities were near or below their ten-year averages.

Rent prices in small and mid-sized municipalities went up in monthly prices, but remained near the averages. Vacancies continued to be low compared to years past.

Graph showcasing rental starts in Lethbridge. (BILD, via CMHC Housing Market Information Portal)

Housing inventory saw an increase in the province in 2023, however in Lethbridge, it decreased and stayed below the ten-year average. Housing starts are reportedly near all-time highs in the province, but the increased demand continues to put pressure on housing inventory.

Graph featuring housing inventory in Lethbridge. (BILD, via CMHC Housing Market Information Portal)

Municipalities in Alberta saw housing prices rise, besides Wood Buffalo, where prices remained slightly below the ten-year average.

Graph showing housing prices in Lethbridge. (BILD, via CMHC Housing Market Information Portal)

Overall, Alberta’s population grew by 4.1 per cent year over year, which contributed to the increase in rental and housing prices.

The increase is the largest in Alberta’s history, and is more than double the ten-year average.

READ MORE: Lethbridge News Now.

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by Joel Mendelson

Mid-sized municipalities saw declines in housing starts in 2023: BILD report

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