CALGARY HOUSING Single Family Detached, Town House and Condo Average Prices with Total Residential Listings and Sales and the TSX Energy Index
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NOTE: Condo data from July 2006 to November 2010 are CREB combined Strata. The TSX Energy Index is x15 to fit the chart.
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In June 2019 a detached house was still the first choice over strata units, although Town house bids came in as well.
Meanwhile the residential sales plot in Calgary has hit the seasonal highs from the last 4 years. The 5 year sales breakdown has capped prices while inventory continues moving up and could be soon testing the 2013 and 2018 highs. |
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In May 2017 real estate buyers heard Trumpets and moved the average price of a detached house to a historical peak and now 24 months later, the buy side of the market continues to thin, although those with income reject strata units in favour of detached dwellings.
The employed in Alberta enjoy the highest household earnings in Canada with the average employment earnings (MAR 2019 data) at only 2% below the October 2014 $60,961 high and 12% above the national average.
But Foreign Direct Investment in Canada has been negative for two decades. The data plot spiked to a new wide in 2015, 2016, 2017 and 2018. 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.
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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.
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IN THE LAST 10 YEARS SFD Prices are up: 103% in Vancouver 20% in Calgary 109% in Toronto WHILE Employment Earnings are up: 23% in British Columbia 25% in Alberta 25% in Ontario |
