Friday, September 17, 2021
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YYC’s 2021 Housing Forecast

Housing Market – Apartment

Prior to the shutdowns, there were signs of improvement in this sector. While the shutdowns impacted all sectors, apartment sales did not rebound in...

Rural Rockyview

The Rockyview region is relatively diverse, featuring traditional communities as well as acreages. Springbank and Bearspaw, which are home to many of Rockyview’s higher-end...

Airdrie

Despite recording a significant drop in sales from March through May, sales activity surged through the remainder of the year, resulting in an annual...

Economic Update

COVID-19 has had widespread impacts on the economy. The shutdowns had significant economic repercussions in the retail, arts and entertainment, tourism, service, and transportation...

Lending Market

The significant impact COVID-19 has had on the economy resulted in a pivot for the Bank of Canada, which cut the overnight target rate...

New Home & Rental

Slowing economic conditions spread to the new-home sector in 2020. Starts in the city declined by 22 per cent in 2020. Most of the...

Strathmore

Strathmore recorded a dramatic shift in sales in the second half of the year, resulting in annual sales growth of nearly 26 per cent. New...

Population

With borders closed, COVID-19 impacted the flow of people and we saw the impact in our international migration numbers. For many years, Alberta has struggled...

Cochrane

Rising sales in the second half of the year were enough to offset the pullbacks created by the shutdowns, as 2020 sales activity rose...

Okotoks

Okotoks followed many of the same trends as other markets in 2020. However, there was a dramatic shift by the end of the year where...

Summary Tables

Alberta: Housing Market Comparison

All major markets across the province felt the impact of the shutdowns in the early part of 2020. As the economy reopened, it was consistent...

Coast to Coast – A Cross-Country Comparison

COVID-19 has impacted all areas across the country, but in markets like Toronto, Vancouver and Montreal, sellers’ market conditions existed before the pandemic. While all...

High River

Stronger sales in the second half of the year offset earlier pullbacks, resulting in a sales increase of 12 per cent in 2020. Rising sales...

Housing Market – Detached

Over the past two years, the detached sector has struggled with slower sales and elevated inventory. Lower lending rates and low prices contributed to...

Housing Market – Semi-Detached

A significant drop in inventory and stable sales in 2020 pushed the semi-detached sector into the tightest conditions seen since 2014. Entering 2021 with tight...

Chestermere

Activity in the region completely turned around last year following the weakness recorded in 2019. In 2020, sales activity rose to the highest levels seen...

Employment Update

Calgary was already experiencing some job losses prior to the spring shutdown. However, the three-month shutdown resulted in a dramatic decline in employment. In January,...

Housing Market – Row

Row sales activity recorded the strongest growth relative to the other property types in 2020. Some of the annual sales gain was a result of...

City of Calgary

The city started 2020 with the expectation things were going to be better following five years of slow activity. The economy was showing signs of...

Top Considerations & Risks

UPSIDE RISK TO THE FORECAST: Government support and the low interest rate environment may be enough to prevent any substantial rise in supply levels. If...