New analysis from Calgary Chamber finds progress on housing, urges continued action to prioritize affordability
Calgary, AB, July 24, 2025 – Momentum to improve housing affordability is stronger than ever, however sustained and coordinated action must continue to ensure Canadians can access the homes they need, says a new report from the Calgary Chamber of Commerce.
“Housing affordability isn’t just a social issue — it’s an economic driver. When people can afford to live where they work, businesses can attract talent, communities thrive and the economy grows,” says Deborah Yedlin, President & CEO at the Calgary Chamber of Commerce. “We’re encouraged by the momentum we’re seeing from governments and the construction industry to get more homes built — and proud that Alberta and Calgary are leading the country in housing starts. We encourage all levels of government to continue investing in housing affordability as a cornerstone of economic growth and competitiveness.”
Entitled Home Economics II: Maintaining Momentum, this report provides an update on the Chamber’s 2024 housing report Home Economics: Unlocking Growth through Housing Solutions. The report tracks progress on affordability, analyzes shifts in the housing landscape and outlines targeted recommendations to support continued growth and affordability.
Key Highlights
Alberta leads the country in housing starts — but pressure remains
Alberta recorded 68,494 housing starts so far in 2025 — 79 per cent higher than the five-year average and 28 per cent higher than the same period last year. By contrast, housing starts across the rest of Canada are down 8 per cent year-to-date, excluding Alberta’s starts. Additionally, this week, the City of Calgary reported it has exceeded its housing supply target of 42,667 units, more than one year ahead of schedule.
At the same time, Calgary continues to grow rapidly, adding nearly 220,000 people since 2020. Alberta’s population surpassed 5 million in 2025 — a sign of strong economic momentum while also putting more pressure on the housing supply.
The housing landscape has shifted
Global trade tensions, labour shortages and rising costs continue to challenge businesses — especially in the construction sector. Recent investments from governments and industry are beginning to show results. Housing prices and rental rates are starting to stabilize, and job vacancies in construction have dropped sharply from post-pandemic peaks.
Governments at all levels have made notable commitments, including:
- $60 million from the City of Calgary for non-market housing
- $1.2 billion from the Province of Alberta to build 6,300 affordable housing units
- Announcement of the federal Build Canada Homes agency, to be tasked with boosting starts to 500,000 per year
More action needed: Chamber recommendations
To maintain momentum and ensure future growth, the Chamber recommends the following:
- Municipal: Speed up builds by streamlining approvals, reducing government charges where appropriate and leveraging technology such as AI to increase efficiency of service delivery such as home inspections. Continue investing in non-market housing to reduce pressure on the private market.
- Provincial: Expand trades training, harmonize building codes and continue funding affordable housing to reduce regulatory and labour bottlenecks. Provide incentives for apprentices to complete their training.
- Federal: Scale up direct funding programs like the Housing Accelerator Fund, invest in enabling infrastructure, support interprovincial credentialing and promote innovation in construction to improve productivity and reduce costs.
Quick Facts
- Alberta recently surpassed five million residents, and Calgary alone grew by nearly 220,000 people between 2020 and 2024.
- The seasonally adjusted annual rate is for housing starts in Alberta is 68,494 – 79 per cent higher than the five-year average and 28 per cent higher than the same period from last year.
- With funding from the federal Housing Accelerator Fund, the City of Calgary has incentivized the construction of 44,726 units in the last 20 months.
- Housing starts across Canada are down 1 per cent — and if Alberta is excluded, year-to-date starts are down 8 per cent.
- Rental rates are down 6 per cent in Calgary; 0.4 per cent in Alberta; and 2.7 per cent across Canada.
- The average condo sale price is has decreased by 1.6 per cent in Calgary and 5.2 per cent across Canada.
- The average selling price for a detached home is down 1.7 per cent across Alberta and 3.4 per cent across Canada.
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About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among our members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
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media@calgary-chamber.papercrane.ca
