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Spending on residential renovations in Alberta surged in the first 3 months of 2017, partly due to the reconstruction of residences destroyed by the 2016 Fort McMurray wildfire.

Despite a slowdown in the Alberta economy, spending on residential renovations held up well in the past year. According to Statistics Canada's residential investment data, renovation spending during the fourth quarter of 2016 increased.

Following a sizable decline in new housing activity last year, Alberta s home builders are expecting reductions to moderate in 2017.

After leading the country for over four years, Alberta’s population growth in the last six months has cooled due to the protracted slowdown in the provincial economy associated with the weakened energy sector.

Residential construction in Alberta drives creation of 213,463 jobs that generate $13.6 billion in wages annually and $19.3 billion in investment. Click here to read more.

Following a major reduction in new housing construction this year, Alberta s builders are calling for a modest recovery in 2017.