Alberta's total housing starts in July were up 61.5 per cent over last year for the same month, according to the Canada Mortgage and Housing Corporation.
But it is doubtful a real estate boom is back. "This streak will likely end in Calgary," said Richard Cho, a senior market analyst for the Calgary branch of CMHC. He predicts a slowdown because of the high listings availability for resale and rising interest rates.
In most of Alberta's larger cities, construction started on 2,348 homes in July, compared to 1,454 in July 2009. Only Lethbridge and Red Deer saw a decrease.