
Here are some hard numbers to be aware of for the Calgary market.
1. There is a 10% unemployment rate in Calgary
2. Alberta's manufacturing industry is tightly knit to Alberta's Oil Industry
3. Calgary had an net out migration of 6,000 people and it is expected more in 2017.
4. In 2015 there was a 26% contraction, 2016 was 6% for sales
5. Listings are declining, that's positive. She says this is helping the market stay stable.
5. New home sales are in decline
6. Lots of multi family under construction making apartment inventory on the rise
7. Apartments not even adjusted with inflation are lower than 2007 levels. This will not stabilize this year.
8. The peak drop, from 2014 to now, for apartment condos is expected to be at 11%, Semi detached at 5.5% and detached homes at 4.7%.
9. 60% of our MLS sales are detached homes, this will be our only somewhat stable sector.
10. CMHC says Calgary purpose built apartment vacancy rate is over 7 per cent, the highest it has been in over 25 years.
On a potential good note, the Calgary Real Estate Board is witnessing 7 homes a day coming off the market due to
terminations alone. This could lessen supply and increase demand if these properties are not added back to the
resale market.