Housing starts down in Lethbridge

By Al Beeber - Lethbridge Herald on July 5, 2022.

LETHBRIDGE HERALDabeeber@lethbridgeherald.com

Construction on a total of 44 new homes was started here in May, down 14 from the previous month, according to the Lethbridge Housing Report.
Of those, 24 were single detached while 18 were row/semi-detached and two others were multi-unit or apartments.
The total is down 5 from the 10-year average.
In Medicine Hat, construction was started on 46 total units in May, 10 of those being single detached while 30 were row/semi-detached and six multi-unit/apartment.
In May, there were 30 total new homes sold in the city with 22 of those being single detached. The average price of a new single/semi-detached home in May was $468,390, down 12.3 per cent from the previous month but up 13.9 per cent from the 10-year average. In the MLS system, 229 homes were sold in May. The average MLS price in May was $348,603.
Provincially, there were 3,864 housing starts in May up 11.3 per cent from the previous month and 35.2 per cent from 2021. Year to date the increase is 18.4 per cent.
Of those total starts, 1,354 units were single detached, 822 were row/semi-detached and 1,688 were multi-unit/apartment.
Total housing inventory in Alberta in May was 2,043 units, with 994 of those single detached, 449 semi-detached and 600 multi-unit/apartment.
Total new home sales amounted to 1,425, down 8.2 per cent from the previous month while 9,409 were sold on the MLS system.
Average price of a new single detached home in Alberta in May was $629,046 while homes sold in the MLS system went for an average of $477,009.

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