Calgary led all Canadian cities in housing starts for the second consecutive year

In 2025, the city recorded 23,360 housing starts, up nearly 16% year over year, driven largely by apartment construction and purpose-built rental supply. At the same time, residential building permit values declined, signaling a more selective development pipeline ahead. Calgary finished the year with 23,467 units under construction and more than 20,400 completions.

Expanded residential supply supports long-term commercial real estate fundamentals by anchoring population growth, labour availability, and commercial development opportunities.

Follow Clearview for ongoing coverage of Calgary’s development and commercial real estate trends.

Source: City of Calgary, Housing Review Q4 2025