July 6, 2017 – Calgary, AB: ATB’s Owl newsletter flew in with more positive news today regarding construction starts and building permits in Alberta, further proving that our economy is improving.
The Owl reports that “According to Statistics Canada, total building permits in Alberta grew to $1.2 billion in May, adjusted for seasonality.” The numbers indicate that this is an increase of 18% from April 2017, and a significant increase.
Although the construction forecast before 2015 was brighter than it is right now, all indications are that both commercial and residential sector “should stabilize this year.”
What does this turn mean for our clients considering new construction of a custom home? Our subcontractors and vendors are still aggressively pricing their products and services, but commodity prices may shift to reflect increased demand in materials like concrete, lumber, and drywall.
with files from The Owl, ATB Financial’s Economics & Research Team