Calgary housing starts fall 20% in July as national construction pace slows

THREAT · Builders & Developers · Residential construction

CMHC’s July housing starts data, released August 18, shows the national annual pace slipping 5% from June to 229,074 units, with starts in centres of 10,000-plus population down 19% year-over-year. Alberta recorded 4,041 starts in July, down 7% from a year earlier — but the provincial number hides a sharp split. Calgary posted 1,504 starts, a 20% drop from July 2025, and CMHC’s deputy chief economist singled out Calgary alongside Vancouver and Toronto as markets where fewer new projects are getting underway.

Edmonton tells a different story: 2,174 starts in July, down just 1% year-over-year, with a six-month trend that actually rose 10% from June. For builders and land developers working both metros, the capital region is currently carrying the province’s construction momentum.

What it means: If your pipeline is Calgary-weighted, the next several quarters will reward sharper positioning and pre-sale marketing — fewer launches means every launch has to land. If you build in Edmonton, the window to capture share while momentum holds is now.