Calgary homebuilders adapt in the face of adversity

There's no question that demand in the Calgary housing market eased following the collapse of oil prices in late 2014.

The impact of that global event sent shockwaves through the local economy, as thousands of people lost their jobs through two brutal years of recession in 2015 and 2016.

A slowing economy and job uncertainty always have an impact on the housing market, and the city saw a corresponding ease in home demand.

However, Calgary's homebuilders have been resilient and creative.

Full steam ahead for new communities in Calgary

Calgary's residential development sector continues to move dirt, lay down infrastructure and create lots as it responds to current consumer interest and prepares for the inevitable economic turnaround.

Within the city limits are several active new-home communities that continue toward buildout or are adding phases.

"Despite Alberta's current economic challenges, there is still a demand for the homes we build in Calgary and Edmonton," said Jason Palacsko, vice-president of Calgary communities for Brookfield Residential. "We are confident in Calgary's future and are moving forward with major projects."