In two years to come, the builders in the Alberta province are hoping to have a slight increase in their building activities, contrary to the major decline in the construction of housing for this year, and as a way of making up for it.
The stats for the construction of homes last year proved to be far better than that of this year. From a survey that was done this month of members of the Canadian Home Builders’ Association in Alberta, it showed that the home stats for 2016 went down to 40 percent, unlike last year which had a total of 22,500 units. The sector that will experience a major decline will be the multifamily sector, which will go down by 47.2 percent, while the single-family home construction, on the other hand, will have a slight decrease by 27.6 percent over the years.
In the following year, there are expectations for the houses to increase by 5.7 percent to 28,825 units. The levels had been way below the 5-year benchmark of 34,600 that was seen during 2011 to 2015, despite the fact that the construction of new homes has been experiencing a moderate increase. The multi-family home will start increasing by just 2.5 percent, while the single-family homes will take the lead by a 9.2 percent increase.