Six months ago, every developer in Alberta was celebrating. 53,000 starts. Record numbers. Best market in the country. Today, Calgary has 17,118 unsold units and sales are down 12.9%.
The story changed. The headlines didn’t.
Here’s what the data actually shows:
→ Inventory hit 17,118 units in early 2026 → Sales dropped 12.9% year-over-year in March → New listings: 10,635 units — still coming in
The segment taking the hardest hit? Apartments and row homes.
Detached houses are holding. Everything else is under pressure.
This is not a crash. But it’s not the boom story people were telling 6 months ago either.
What changed?
Supply outpaced absorption. Builders kept building while buyers slowed down. The math was always going to catch up.
For anyone making decisions in Alberta construction right now — developer, contractor, investor — one question matters more than the headlines:
WHICH segment, WHICH market, and WHICH timing.
Not “is Alberta growing?” It is.
But growth doesn’t mean every project makes sense. Feasibility does.
If you’re evaluating a project in Alberta and want a second read on the numbers — I’m happy to take a look.
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