Calgary's housing market is experiencing significant growth, with a 38% increase in housing starts in the first half of 2024 compared to the previous year, driven by a surge in multi-unit developments. Despite this, demand continues to outpace supply, leading to a 5.5% rise in benchmark home prices to $596,900. However, rental rates have stabilized, with a 1% decrease noted in August 2023. The city is also facing challenges as it embarks on a major school construction initiative, which may strain the skilled trades workforce.