As Edmonton’s population continues to grow, so does start of new builds.
New home starts sustained its growth like the Canadian Mortgage and Housing Corporation said it would back in August, beginning work on 1,304 homes in the Edmonton area the CMHC said in a report. That number is up from 820 starts from the same period last year.
Alberta also saw expanded growth in September of this year compared to last year, as housing starts totaled 2,505 compared to 1,858 from September 2011.
These numbers are even with the lowering of the maximum amortization rate to 25 years from 30 years this summer. Without the cap, more than likely these numbers would be higher. But nothing can control people’s wants and needs if well-paying jobs are going to continue to flourish along with the oil sector.
More population means more homes are needed to be built, which they are. So if you’re looking new homes in Edmonton, contact Alexis Hladly to see what developments are going on in this blossoming market.
Information from the Edmonton Journal was also used in this report.