CALGARY HOUSING at Brian Ripley's Canadian Housing Price Charts and Plunge-O-Meter

CALGARY HOUSING Single Family Detached, Town House and Condo Average Prices with Total Residential Listings and Sales and the TSX Energy Index See also the charts comparing 10 year changes in Alberta employment earnings and the relative values of Calgary strata units as a percentage of single family dwellings.

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NOTE: Average Housing price data are sometimes supplied by the Joe Samson Real Estate Team in Calgary "We put your interests and needs ahead of the sale when you choose to work with Calgary's best real estate agents!"

In June 2021 average single family detached prices turned back down into the price channel that has defined prices in the last 9 years of sideways chop.

Meanwhile Townhouse prices caught another bid in a year long rally. Condo asking prices were rejected this month and are now down to 15 years ago at 1Q 2006 levels when the TSX Energy Index was trading at 2.5 times higher.

Total residential sales have turned down from last month's high and inventory continues to increase bringing the ratio of listings to sales up to 2.4.

Calgary Single Family Detached Prices
Down 2% from the MAY 2021 Peak
Up 22% in the last 10 years

Calgary Town House Prices
Down 21% from the MAR 2018 Peak
Townhouses are priced at 59% of SFDs
or 1 SFD = 1.7 Townhouses

Calgary Condo Prices
Down 27% from the JUN 2014 Peak
Condos are priced at 44% of SFDs
or 1 SFD = 2.3 Condos

The employed in Alberta enjoy the highest average employment earnings on the latest April 2021 data (2 month lag) at $63,605/yr which includes the government shutdown subsidies and are still 8% above Canada's national average.

But in Canada, only 20% of households have a net worth greater than $1,000,000 (see my post "Household Net Worth" of June 2020).

Foreign Direct Investment in Canada has been negative for over two decades and the data plot spread has been widening since 2015. That's a trend. Housing is a commodity as is heavy Alberta crude. Follow the money, see the TSX chart and my notes on the commodities super cycle in my post Japan Redux and my December 6, 2020 post Peak Oil Says BP.