According to the Canada Mortgage and Housing Corporation (CMHC), 195,087 homes were started in Canada in February, a trend of the six-month moving average of monthly seasonally adjusted annual rates (SAAR) of housing starts.

"The trend in total housing starts continued to moderate in February. Moderation in economic fundamentals in the second half of 2012 has led to more modest housing demand and builders are adjusting accordingly," said Mathieu Laberge, deputy chief economist at CMHC.

A report by Altus Group suggests, while the apartment sector will be driving most of the overall moderation in starts in 2013, Calgary is the only market expected to escape a downturn.

Calgary apartment starts are expected to reach 4,100 in 2013 compared to 4,000 in 2012, the only increase in major centres covered by the Altus Group report. By 2014, however, that number is expected to drop to 3,600.

Single-detached starts in Calgary for January increased 31 per cent compared to January 2012 said the Canada Mortgage and Housing Corporation (CMHC) in its Housing Now report.

"New single-detached construction in Calgary remains robust as new inventories and active listings in the competing resale market have declined and rental vacancies remain relatively low," stated the report.