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Saturday, November 28, 2020
Home YYC’s 2020 Housing Forecast

YYC’s 2020 Housing Forecast

Economic Update

DOWNSIDE RISK TO THE FORECAST: If recent job losses in the Calgary market continue into 2020, this will create further uncertainty. It will also...

Population

After several years of sluggish economic activity, population growth has settled in at 1.5 per cent, comparable to growth rates in the rest of...

Lending Market

While the Bank of Canada maintained its overnight target rate, we did see declines in residential mortgage rates, which likely contributed to some of...

Employment Update

Boosted by improvements in the second and third quarters of the year, employment activity in Calgary is on pace to improve by nearly four...

Housing Market – ATTACHED

Benefiting from its relative affordability compared to detached product, and steeper price declines, attached sales activity far surpassed expectations and grew by nearly seven...

Housing Market – SEMI-DETACHED

A LOOK BACK AT 2019: Last year, semi-detached sales improved by six per cent, making it the only sector to see sales rise to...

Housing Market – ROW HOUSING

A LOOK BACK AT 2019: The relative affordability of this product type, coupled with price adjustments in this segment, supported sales growth in the...

Coast to coast – A Cross-country Comparison

Persistent economic challenges in both Alberta and Saskatchewan weighed on home prices in 2019. Changes to lending requirements and a shift in foreign ownership...

Airdrie

Following challenging housing market conditions in 2018, 2019 brought some notable improvements to the Airdrie market. Driven by growth in both the detached and...

Cochrane

Sales activity in the town improved in 2019 compared to the previous year, thanks to growth in both the detached and apartment sectors. Cochrane...

Okotoks

Following a slow start to the year, Okotoks saw continual improvement in sales each quarter. At the same time, the number of new listings...

Chestermere

Activity in the region showed signs of weakening in 2019. Competition from the new-home sector, and narrowing price spreads between Calgary and Chestermere, might...

Strathmore

Sales activity in Strathmore eased in 2019 compared to the previous year to levels not seen since the early 2000s. While new listings also...

High River

In 2019, sales activity improved to levels consistent with longer-term trends for the town. However, it was not enough to offset new listings on...

Summary

 

Regional Employment Comparison

Calgary has recorded some improvements in employment, but this has not been the case across the province. Edmonton and Grande Prairie both saw job...

New Home and Rental

Despite elevated inventory levels in the city of Calgary, starts activity improved in 2019 due to multi-family construction. Much of the growth came from...

City of Calgary

Since the oil price crash, Calgary has faced job losses, wage reductions and tightening national housing policy. All these factors have contributed to the...

Housing Market – DETACHED

The detached market has struggled more than other sectors following the stress-test change occurring in 2018. However, after several years of adjustments, and steeper...

Housing Market – APARTMENT

The apartment sector is typically the most affordable sector in the market. However, it did not receive the same boost in sales that the...

Housing Market – ATTACHED

Benefiting from its relative affordability compared to detached product, and steeper price declines, attached sales activity far surpassed expectations and grew by nearly seven...