Interest rates have gone up, qualifying/buying power has gone down for many. Despite that, high in-migration into AB, job creation, a booming oil and gas sector, along with diversification of our industries, means that people still need to buy homes to live in. That is likely what we are seeing here. Townhouse sales are up 18% YoY, whereas single family and semi-detached sales are down 29% YoY.
“Apartment supply fell by 50 per cent last month compared with October last year because demand outstripped new listings.” Despite this, apartments are still the most supplied product in Calgary.
Interesting read overall. Check it out!
