Calgary’s busy home construction industry is proving to be good news for homebuyers. The city reached another record for new homes in 2025, with nearly 28,000 units coming online. “We had 28,000 occupancies last year. In a normal year, we’d have 13,000 to 14,000. We’re talking over double in one year,” said Reid Hendry, the city’s chief housing officer. It’s also the third straight year Calgary has led the country in housing starts, with the building of single-family homes, townhomes and condos happening all across the city. “On any given street, we’re seeing stacked townhomes, we’re seeing duplexes, we’re seeing singles with suites in the backyard or across the lane,” said Teresa Goldstein, the chief planner for the city. “We are offering additional housing choices. It’s getting people into areas where they may not have been able to afford that single-family home,” she added. The city’s housing metric shows 27,952 homes were granted occupancy in 2025, up from 21,365 the year prior. All that extra supply is contributing to a decrease in home prices, and sales have slowed, according to the Calgary Real Estate Board (CREB). The CREB’s housing report for January shows home sales dropped by nearly 15 per cent this year compared to last year, and the benchmark price fell by about five per cent in that same period. “Sometimes, affordability drives what (buyers) can actually purchase, right? So we have to keep that in mind. But generally what we’ve been seeing is that sales are slower almost across all property types,” said Ann-Marie Lurie, the CREB’s chief economist. But it’s high-density homes that are taking the biggest hit, the market report shows. Migration has slowed to Alberta, and increased supply has the benchmark price of apartment-style homes sitting eight per cent lower now compared to a year ago.
