Calgary Real Estate Board data lists the average MLS sale price for a single-family home at $471,696 last month, compared to $448,557 in February 2007. Average prices for condominiums were $311,812 and $301,812, respectively.
Year-to-date, housing starts were 4% ahead this year, compared to the first two months of 2007. Still, the CMHC holds on to its prediction of a decline in housing starts this year, Louie said.
CMHC forecast last month that Calgary housing starts would decline 19% in 2008. Housing starts in Alberta's seven largest urban centres decreased 20% from 2,338 units in February 2007 to 1,867.
Single-family starts dropped 46% across Alberta, while multi-family starts rose 0%. Nationally, urban starts rose 42% from February 2007.
