Calgary is one of the few major Canadian cities where the supply gap to restore pre-pandemic housing affordability levels has narrowed, according to the Canada Mortgage and Housing Corporation (CMHC), due to years of record construction.
According to the federal housing agency’s latest supply gap estimate report, Calgary needs between 4,000 and 5,000 additional units annually by 2036 to restore affordability.
“What we’ve seen is years of record housing starts have resulted in a significant narrowing in that gap as builders have stepped up scaling supply,” said CMHC’s lead economist for the Prairies, Taylor Pardy. “It’s actually been cut in…
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