The pandemic housing boom has made it increasingly difficult to find balance in the Canadian real estate market, with healthy activity on both the demand and supply sides.
Calgary and the broader Alberta real estate markets were slow to catch up to the rest of the country after the first wave of the COVID-19 crisis.
This snapshot of the housing industry zeroes in on four critical metrics of imbalances that impact buyers, sellers, builders and renters.
CMHC’s reading of Calgary was essentially the same as its March assessment, with the primary difference in its excess inventory score, which was considered high.
Moreover, the sales-to-new listings ratio tilts in favour of sellers at around 60 per cent, below the threshold of an overheating possibility of 85 per cent.
According to the Calgary Real Estate Board , residential sales rose to 2,186 units in October 2021, up 24 per cent year-over-year.
CREB figures did show that inventory is beginning to tighten, but not at the concerning levels seen elsewhere across the country.
For example, Airdrie, Cochrane and Okotoks have witnessed decent numbers this year in sales activity or price growth.
According to CMHC data, housing starts increased at an annualized rate of 27.8 per cent in October 2021, to 1,255.
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