The flurry of activity in Alberta’s residential construction sector continued in May.

Released this morning, the number of housing starts in Alberta rose to a record high of 68,494 (seasonally adjusted annual rate)—79% higher than the five-year average.

The year-to-date (YTD) figure was 28% higher than the same five months last year.

As such, Alberta is bucking the national trend, with YTD housing starts in Canada down by 1%. If we subtract Alberta’s strong performance from the national total, YTD starts were off by 8% in the rest of the country.

Alberta’s rapid pace of new home construction is taking place despite moderating population growth as homebuilders continue to play catch-up with past population spikes.

Our latest estimate* points to a cooling off over the second half of the year with starts coming in closer to 50K for the year, which would be the highest annual total ever. The current record was set in 2006 at just under 50K.

Both of Alberta’s two largest population centres have seen strong growth in starts. In the Calgary Census Metropolitan Area (CMA) YTD starts were 34% higher than last year compared to 21% higher in the Edmonton CMA.

The surge in housing starts is being driven by muti-unit projects, which reached a record level in May. Single-detached units have also increased this year, but remain below levels from the 2006-07 housing boom. About three-quarters of the YTD starts in the Calgary CMA were in multi-unit projects compared to about two-thirds in the Edmonton CMA.

*We are currently finalizing our next quarterly forecast which will be published next week on June 26.

Answer to the previous trivia question: The employee punch-in time clock was invented in 1888 by Willard Le Grand Bundy of Auburn, New York.

Today’s trivia question: In what year was Russia removed from the G8 making it the G7 again?