Canada Mortgage and Housing Corporation (CMHC) released its 2025 housing starts on January 16, 2026, and Calgary stood out again. Nationally, starts rose 5.6% to 259,028, and CMHC credited record annual starts in Calgary and Edmonton for much of the gain among the six largest metro areas.
Calgary CMA housing starts, 2024 vs 2025
Calgary’s numbers
- The Calgary census metropolitan area (CMA) recorded 27,684 starts in 2025, up 14% from 24,369 in 2024.
- Starts of homes other than single-detached houses, mostly apartments and townhomes, rose 22% to 20,996.
- Single-detached starts fell 6% to 6,688.
These are CMHC figures for the whole census metropolitan area, which includes the city of Calgary and nearby communities such as Airdrie, Cochrane and Chestermere.
Why it matters for buyers and sellers
Most of this construction is apartments, many of them purpose-built rentals, and it reaches the market over the next few years as buildings are completed. That is a large part of why condo and townhome buyers now have more choice. Detached starts moved the other way, which helps explain why detached homes stayed tighter on the resale market.
The national picture
Change in 2025 housing starts, selected large metro areas
Canada’s 259,028 starts were the fifth highest annual total on record. In centres with 10,000 or more people, starts rose 6% to 241,171, driven by a second straight year of record rental starts, which made up just over half of all urban starts. Among the six largest metro areas, record starts in Calgary and Edmonton, a 58% increase in Montréal and 12% in Ottawa-Gatineau made up for declines of 31% in Toronto and 3% in Vancouver.
A record December
December itself was strong. Actual starts in centres of 10,000 or more people rose 25% from a year earlier to 20,716, the most ever for a December, mainly because of increases in Ontario. The seasonally adjusted annual rate rose 11% from November to 282,439 units, while the six-month trend was flat.
Momentum is slowing
CMHC’s chief economist, Mathieu Laberge, said most of 2025’s momentum came in the spring and summer, and that the trend has decreased since September. “In 2025, economic uncertainty and the diminished viability of large residential towers encouraged a shift towards smaller-scale projects,” he said. He added that starts are beginning 2026 “from a weaker position” and that market intelligence suggests slowing momentum for residential construction. CMHC plans an updated Housing Market Outlook in February.
What Calgary’s mix tells us
About three in four Calgary-area starts in 2025 were homes other than single-detached houses. CREB’s year-end review on January 2 said most of the apartment starts in recent years were purpose-built rentals, which still add supply choice and weigh on the resale condo market. Meanwhile, fewer single-detached starts mean less new competition for resale detached homes. Keep in mind that a start is counted when construction begins, so many of these homes reach the market a year or more later, and large apartment buildings can take longer still. The 2025 record will keep shaping Calgary’s supply over the next few years, as these buildings are completed and come to market in stages.
Practical takeaways
- Condo and townhome buyers: new buildings will keep coming to market as projects finish, so choice should stay good. Compare new and resale units on price, fees and size.
- Renters: more purpose-built rentals mean more options and more room to negotiate on rent and move-in terms.
- Detached sellers: fewer new single-detached homes support resale demand, especially in districts with little new construction.
- Investors: the rental pipeline is large. Check vacancy and rents in the area before buying a condo to rent out, and stress-test your numbers.
A start is counted when the foundation is poured, so these homes are not finished yet. Most of them will be completed and reach the market in 2026 and 2027.
