CALGARY HOUSING Single Family Detached, Town House and Condo Average Prices with Total Residential Listings and Sales and the TSX Energy Index
CLICK CHART TO ENLARGE
NOTE: Condo data from July 2006 to November 2010 are CREB combined Strata. The TSX Energy Index is x15 to fit the chart.
|
In February 2019 total residential sales in Calgary continued following a well established downtrend of lower highs that began mid-year 2013; the 5 year sales breakdown has capped prices. Meanwhile inventory is moving up out of the seasonal lows. |
|
In May 2017 real estate buyers heard Trumpets and moved the average price of a detached house to a historical peak and now 19 months later, the buy side of the market continues to thin.
The employed in Alberta enjoy the highest household earnings in Canada but the average employment earnings have dropped to 2% below the October 2014 $60,961 high.
And Foreign Direct Investment in Canada has been negative for two decades and the data plot spiked to a new wide in 2015, 2016 and 2017. That's a trend. Housing is a commodity as is heavy Alberta crude. Follow the money, see the TSX chart.
Here is another attempt to visualize the distortions of the market where the fundamental requirement of a yield to attract sustainable investment in real estate has been replaced with the lure of capital gains.
Here is another attempt to visualize the distortions of the market where the fundamental requirement of a yield to attract sustainable investment in real estate has been replaced with the lure of capital gains.
CLICK CHART TO ENLARGE
|
The "improvement" that sits on the land is a wasting asset. If serviced land is so valuable, shouldn't the ratio be 1 house equals at least 3 townhouses? If the numbers don't make sense you can always rent. When MOI is low & MAR is high, developers and vendors have the edge.
CLICK CHART TO ENLARGE
|
IN THE LAST 10 YEARS AVERAGE SFD Prices are up: 121% in Vancouver 30% in Calgary 118% in Toronto WHILE Employment Earnings are up: 23% in British Columbia 23% in Alberta 26% in Ontario |
