2017 Calgary Housing Forecast Report Charts
The Calgary Real Estate Board is one of the most active Real Estate Boards in Canada when it comes to crunching numbers for the Realtor members and the public. Each year the board publishes a Forecast Report that includes predictions for the future. Along with actual past housing market data.
The report focus is on supply and demand of housing in Calgary. And the real estate market drivers of GDP Growth, Net Migration, Employment Trends, New Home Construction, Home Rental Vacancy Rates and Mortgage Trends.
My summary of the 2017 Calgary Housing Forecast Report is unchanged from my monthly summary for the last 24 months or so.
The condo/apartment market sucks unless you are a buyer. Over 7 months of inventory and a price decline of 11% year over year. Home builders are bringing a lot more new product in this category. Which means a bright future for Condo sellers is not in the near future.
Detached homes are down less than 5% from 2015 and inventory remains low. New Home Builders are not flooding the market with new product in this category.
When employment does start to pick up it will take a while before it’s reflected in the housing market – so current trends will most likely continue for another year or more.
Click the link below to download the full 2017 Calgary CREB Housing Forecast Report.