HOUSING NOW Calgary CMA

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H o u s i n g M a r k e t I n f o r m a t i o n HOUSING NOW Calgary CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: May Table of Contents New Home Market

This represents the highest number of monthly housing starts since March 2008 when 3,068 units were started.

1 H o u s i n g M a r k e t I n f o r m a t i o n HOUSING NOW Calgary CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: May Table of Contents New Home Market Calgary housing starts rise in Housing starts in the Calgary Census Metropolitan Area (CMA) totalled 1,711 units in, up from 556 units in the previous year. This represents the highest number of monthly housing starts since March 2008 when 3,068 units were started. Figure 1 To the end of, total housing starts reached 4,911 units, an increase from 2,104 units in. A total of 560 single-detached units broke ground in, up 34 per cent from 418 units in the previous year. Combined with strong employment gains, rising migration, and low mortgage rates, the decline in active listings in the competing resale market has boosted demand for new homes. Of the 560 single-detached 1 New Home Market 4 Maps of Calgary 10 Housing Now Report Tables 11 Summary by Market 18 Starts 21 Completions 24 Absorptions 25 Average Price 26 MLS Activity 27 Economic Indicators units Calgary CMA - Single-Detached Starts Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Source: CMHC SUBSCRIBE NOW! Access CMHC s Market Analysis Centre publications quickly and conveniently on the Order Desk at View, print, download or subscribe to get market information ed to you on the day it is released. CMHC s electronic suite of national standardized products is available for free. Housing market intelligence you can count on

2 Figure 2 complete and unabsorbed units Source: CMHC Calgary CMA - Single-Detached Inventory units that were started, 429 units were within City limits, up 25 per cent from. During the first four months of, single-detached starts in the Calgary CMA increased 30 per cent from 1,399 units in to 1,816 in. Among markets comprising the CMA, the City of Calgary reported the strongest gain in single-detached starts thus far, up 32 per cent from the previous year. Completions of single-detached units in increased on a year-overyear basis for the third consecutive month. There were 487 units completed in, up 11 per cent from 439 units a year earlier. Singledetached absorptions also rose from the previous year, rising 17 per cent to 481 units. Despite the increase, more homes were completed than absorbed, moving inventories higher. The number of complete and unoccupied units in was 480 units, up 26 per cent from. Single-detached inventories will continue to experience some upward pressure as units under construction reach completion. The number of homes underway amounted to 2,871 units in compared to 2,428 in the previous year. The absorbed single-detached price averaged $525,535 in, representing a decline of three per cent from $539,269 in. The moderation in the average absorbed price was partly due to a change in the composition of homes absorbed. The median absorbed price in, which is less influenced by the distribution of absorptions by price Figure 3 units 1,200 1, Source: CMHC range, remained relatively the same compared to a year earlier. To the end of, the single-detached average absorbed price was $562,712, an increase of five per cent from. Multi-family starts, which consist of semi-detached units, rows, and apartments, rose to 1,151 units in, up from 138 units a year earlier. Apartment starts have been a substantial contributor to multifamily production for the last several months. There were 918 apartments started in, compared to only four units in. Notably, 144 of these units are targeted for rental tenure. Semi-detached and row units were also up from the same month last year. Year-to-date, multi-family starts reached 3,095 units, more than four times the 705 units reported in. Supply of multi-family units, which include units in inventory and those under construction, reached 8,261 units in, an increase of 59 per cent from 5,182 units in. The increase can be attributed to more units under construction as multi-family inventories were down from levels. The number of Calgary CMA - Multi-Family Starts 2010 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2

3 multi-family units under construction in totalled 7,705 units, up 72 per cent from the previous year. Although there were more semidetached and row units under construction compared to a year earlier, apartments had the strongest gains due to an elevated number of starts in the last several months. Multi-family inventories on the other hand, were down 22 per cent in from the previous year, with 556 units reported. The decline was due to fewer apartment inventories as semi-detached and row units have risen from a year earlier. Given the rise in apartments under construction, inventories are likely to increase once a bulk of these units reach completion. Figure 4 units Semi Row Apartment Source: CMHC Calgary CMA - Multi-Family Inventory 3

4 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Number of Starts (Multiples) MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake N Beiseker Irricana HIGHWAY 22X Km DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 40 HIGHWAY 1 HIGHWAY 762 Legend No starts starts starts 722-1,079 starts 4

5 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Number of Starts (Singles) MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake N Beiseker Irricana HIGHWAY 22X Km DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 40 HIGHWAY 1 HIGHWAY 762 Legend No starts starts starts starts 5

6 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Total Number of Starts MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake Beiseker Irricana HIGHWAY 22X DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 762 HIGHWAY 40 HIGHWAY 1 Legend No starts starts 509-1,008 starts 1,009-1,508 starts N Km 6

7 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Number of Starts (Multiples) January - MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake N Beiseker Irricana HIGHWAY 22X Km DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 40 HIGHWAY 1 HIGHWAY 762 Legend No starts starts 952-1,878 starts 1,879-2,806 starts 7

8 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Number of Starts (Singles) January - MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake N Beiseker Irricana HIGHWAY 22X Km DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 40 HIGHWAY 1 HIGHWAY 762 Legend No starts starts starts 945-1,403 starts 8

9 HIGHWAY 574 HIGHWAY 22 HIGHWAY 806 HIGHWAY 2 HIGHWAY 566 HIGHWAY AVE NE HIGHWAY 8 Housing Now - Calgary CMA - Date Released - May Calgary CMA Total Number of Starts January - MD Rockyview Cochrane Crossfield Airdrie Calgary City Chestemere Lake Beiseker Irricana HIGHWAY 22X DEERFOOT TRAIL SE CROWCHILD TRAIL NW HIGHWAY 762 HIGHWAY 40 HIGHWAY 1 Legend No starts 51-1,437 starts 1,438-2,823 starts 2,824-4,209 starts N Km 9

10 HOUSING NOW REPORT TABLES Available in ALL reports: 1 Housing Activity Summary of CMA 2 Starts by Submarket and by Dwelling Type Current Month or Quarter 2.1 Starts by Submarket and by Dwelling Type Year-to-Date 3 Completions by Submarket and by Dwelling Type Current Month or Quarter 3.1 Completions by Submarket and by Dwelling Type Year-to-Date 4 Absorbed Single-Detached Units by Price Range 5 MLS Residential Activity 6 Economic Indicators Available in SELECTED Reports: 1.1 Housing Activity Summary by Submarket 1.2 History of Housing Activity (once a year) 2.2 Starts by Submarket, by Dwelling Type and by Intended Market Current Month or Quarter 2.3 Starts by Submarket, by Dwelling Type and by Intended Market Year-to-Date 2.4 Starts by Submarket and by Intended Market Current Month or Quarter 2.5 Starts by Submarket and by Intended Market Year-to-Date 3.2 Completions by Submarket, by Dwelling Type and by Intended Market Current Month or Quarter 3.3 Completions by Submarket, by Dwelling Type and by Intended Market Year-to-Date 3.4 Completions by Submarket and by Intended Market Current Month or Quarter 3.5 Completions by Submarket and by Intended Market Year-to-Date 4.1 Average Price ($) of Absorbed Single-Detached Units SYMBOLS n/a Not applicable * Totals may not add up due to co-operatives and unknown market types ** Percent change > 200% - Nil -- Amount too small to be expressed SA Monthly figures are adjusted to remove normal seasonal variation 10

11 Table 1: Housing Activity Summary of Calgary CMA Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row STARTS , % Change n/a n/a 86.1 ** n/a n/a ** Year-to-date 1, , ,911 Year-to-date 1, ,104 % Change n/a n/a 67.2 ** n/a ** UNDER CONSTRUCTION 2, ,112 4, ,576 2, , ,900 % Change n/a n/a COMPLETIONS % Change n/a n/a -3.2 n/a n/a n/a 9.4 Year-to-date 1, ,740 Year-to-date 1, ,194 % Change n/a n/a 3.0 ** COMPLETED & NOT ABSORBED , ,092 % Change n/a n/a n/a n/a -5.1 ABSORBED % Change n/a n/a -2.4 ** n/a n/a 10.6 Year-to-date 1, ,653 Year-to-date 1, ,138 % Change n/a n/a -1.8 ** Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 11

12 Table 1.1: Housing Activity Summary by Submarket Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row STARTS Calgary City , Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA , Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 12

13 Table 1.1: Housing Activity Summary by Submarket Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row UNDER CONSTRUCTION Calgary City 2, , ,450 1, , ,961 Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA 2, ,112 4, ,576 2, , ,900 Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 13

14 Table 1.1: Housing Activity Summary by Submarket Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row COMPLETIONS Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 14

15 Table 1.1: Housing Activity Summary by Submarket Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row COMPLETED & NOT ABSORBED Calgary City ,033 Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA , ,092 Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 15

16 Table 1.1: Housing Activity Summary by Submarket Ownership Freehold Condominium Single Semi Row, Apt. & Other Single Row and Semi Apt. & Other Single, Semi, and Row ABSORBED Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey, Market Absorption Survey) 16

17 Table 1.2: History of Housing Starts of Calgary CMA Single Freehold Semi Row, Apt. & Other Ownership Single Condominium Row and Semi Apt. & Other Single, Semi, and Row 5, ,186 1, ,292 % Change n/a n/a , ,191 1, ,262 % Change n/a ** ** , ,318 % Change ** n/a n/a , , ,438 % Change n/a ** , ,380 3, ,505 % Change n/a , ,171 4, ,046 % Change n/a ** , ,329 2, ,667 % Change , ,097 3, ,008 % Change , ,504 2, ,642 % Change , ,489 2, ,339 Rental Apt. & Other Total* Source: CMHC (Starts and Completions Survey) 17

18 Submarket Table 2: Starts by Submarket and by Dwelling Type Single Semi Row Apt. & Other Total % Change Calgary City , ** Airdrie Beiseker n/a Chestermere Lake Cochrane Crossfield n/a Irricana n/a Rocky View County Calgary CMA , ** Submarket Table 2.1: Starts by Submarket and by Dwelling Type January - Single Semi Row Apt. & Other Total % Change Calgary City 1,403 1, , ,209 1, Airdrie Beiseker n/a Chestermere Lake Cochrane Crossfield n/a Irricana n/a Rocky View County Calgary CMA 1,816 1, , ,911 2, Source: CMHC (Starts and Completions Survey) 18

19 Submarket Table 2.2: Starts by Submarket, by Dwelling Type and by Intended Market Freehold and Condominium Row Rental Freehold and Condominium Apt. & Other Rental Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Submarket Table 2.3: Starts by Submarket, by Dwelling Type and by Intended Market January - Freehold and Condominium Row Rental Freehold and Condominium Apt. & Other Rental Calgary City , Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA , Source: CMHC (Starts and Completions Survey) 19

20 Submarket Table 2.4: Starts by Submarket and by Intended Market Freehold Condominium Rental Total* Calgary City , Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA , Submarket Table 2.5: Starts by Submarket and by Intended Market January - Freehold Condominium Rental Total* Calgary City 1,670 1,229 2, ,209 1,667 Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA 2,131 1,617 2, ,911 2,104 Source: CMHC (Starts and Completions Survey) 20

21 Submarket Table 3: Completions by Submarket and by Dwelling Type Single Semi Row Apt. & Other Total % Change Calgary City Airdrie Beiseker n/a Chestermere Lake Cochrane Crossfield n/a Irricana n/a Rocky View County Calgary CMA Submarket Table 3.1: Completions by Submarket and by Dwelling Type January - Single Semi Row Apt. & Other Total % Change Calgary City 1,291 1, ,277 1, Airdrie Beiseker n/a Chestermere Lake Cochrane Crossfield n/a Irricana n/a Rocky View County Calgary CMA 1,645 1, ,740 2, Source: CMHC (Starts and Completions Survey) 21

22 Table 3.2: Completions by Submarket, by Dwelling Type and by Intended Market Submarket Freehold and Condominium Row Rental Freehold and Condominium Apt. & Other Rental Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Table 3.3: Completions by Submarket, by Dwelling Type and by Intended Market January - Submarket Freehold and Condominium Row Rental Freehold and Condominium Apt. & Other Rental Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Source: CMHC (Starts and Completions Survey) 22

23 Submarket Table 3.4: Completions by Submarket and by Intended Market Freehold Condominium Rental Total* Calgary City Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA Submarket Table 3.5: Completions by Submarket and by Intended Market January - Freehold Condominium Rental Total* Calgary City 1,507 1, ,277 1,638 Airdrie Beiseker Chestermere Lake Cochrane Crossfield Irricana Rocky View County Calgary CMA 1,901 1, ,740 2,194 Source: CMHC (Starts and Completions Survey) 23

24 Submarket Units Share (%) $350,000 - $449,999 Share Units (%) $450,000 - $549,999 Share Units (%) $550,000 - $649,999 Share Units (%) Calgary City , , , ,330 Year-to-date , , ,035 Year-to-date , , ,867 Airdrie , , , ,961 Year-to-date , ,482 Year-to-date , ,321 Beiseker 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a Chestermere Lake , , Year-to-date , ,679 Year-to-date , ,436 Cochrane , , , ,285 Year-to-date , ,720 Year-to-date , ,174 Crossfield 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date Year-to-date 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a Irricana 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a Year-to-date 0 n/a 0 n/a 0 n/a 0 n/a 0 n/a Rocky View County , , , ,048 Year-to-date , ,602 Year-to-date , ,697 Calgary CMA , , , ,269 Year-to-date , , ,712 Year-to-date , , ,422 Source: CMHC (Market Absorption Survey) Table 4: Absorbed Single-Detached Units by Price Range Price Ranges < $350,000 $650,000 + Median Average Total Price ($) Price ($) Share Units (%) 24

25 Table 4.1: Average Price ($) of Absorbed Single-detached Units Submarket % Change % Change Calgary City 555, , , , Airdrie 405, , , , Beiseker n/a n/a Chestermere Lake 603, n/a 609, , Cochrane 420, , , , Crossfield n/a n/a Irricana n/a n/a Rocky View County 536, , , , Calgary CMA 525, , , , Source: CMHC (Market Absorption Survey) 25

26 Table 5: MLS Residential Activity for Calgary Number of Sales 1 Yr/Yr 2 (%) Sales SA 1 Number of New Listings 1 New Listings SA 1 Sales-to- New Listings SA 2 Average Price 1 ($) Yr/Yr 2 (%) Average Price 1 ($) SA January 1, ,825 3,567 3, , ,647 February 1, ,961 3,995 3, , ,679 March 2, ,814 4,375 3, , ,235 2, ,835 4,184 3, , ,693 May 2, ,801 4,641 3, , ,756 June 2, ,926 4,371 3, , ,002 July 1, ,951 3,764 3, , ,913 August 1, ,850 3,819 3, , ,442 September 1, ,861 3,980 3, , ,419 October 1, ,866 3,277 3, , ,535 November 1, ,920 2,356 3, , ,651 December 1, ,855 1,452 3, , ,437 January 1, ,840 3,328 3, , ,471 February 2, ,033 3,745 3, , ,533 March 2, ,185 4,529 3, , ,834 2, ,319 4,370 3, , ,765 May June July August September October November December Q1 5, , , Q1 6, , , , , , , , , MLS is a registered trademark of the Canadian Real Estate Association (CREA). 1 Source: CREA 2 Source: CMHC, adapted from MLS data supplied by CREA 26

27 P & I Per $100,000 Interest Rates Table 6: Economic Indicators Mortage Rates (%) NHPI, Total, Calgary CMA 2007=100 Calgary Labour Market Average Weekly Earnings ($) 1 Yr. Term 5 Yr. Term January February March May June July ,000 August ,002 September ,014 October ,029 November ,038 December ,038 January ,039 February ,036 March , ,023 May June July August September October November December CPI, 2002 =100 Employment SA (,000) Unemployment Rate (%) SA Participation Rate (%) SA "P & I" means Principal and Interest (assumes $100,000 mortgage amortized over 25 years using current 5 year interest rate) "NHPI" means New Housing Price Index "CPI" means Consumer Price Index "SA" means Seasonally Adjusted Source: CMHC, adapted from Statistics Canada (CANSIM), Statistics Canada (CANSIM) 27

28 Methodology Starts & Completions Survey Methodology The Starts and Completions Survey is conducted by way of site visits which are used to confirm that new units have reached set stages in the construction process. Since most municipalities in the country issue building permits, these are used as an indication of where construction is likely to take place. In areas where there are no permits, reliance has to be placed either on local sources or searching procedures. The Starts and Completions Survey is carried out monthly in urban areas with population in excess of 50,000, as defined by the 2006 Census. In urban areas with populations of 10,000 to 49,999, all Starts are enumerated in the last month of the quarter (i.e. four times a year, in March, June, September and December). In these centres with quarterly enumeration, Completion activity is modelled based on historical patterns. Monthly Starts and Completions activity in these quarterly locations are statistically estimated at a provincial level for single and multi categories. Centres with populations below 10,000 are enumerated on a sample basis, also in the last month of each quarter (i.e. four times a year, in March, June, September and December). The Starts and Completions Survey enumerates dwelling units in new structures only, designed for non-transient and year-round occupancy. Mobile homes are included in the surveys. A mobile home is a type of manufactured house that is completely assembled in a factory and then moved to a foundation before it is occupied. Trailers or any other movable dwelling (the larger often referred to as a mobile home) with no permanent foundation are excluded from the survey. Conversions and/or alterations within an existing structure are excluded from the surveys as are seasonal dwellings, such as: summer cottages, hunting and ski cabins, trailers and boat houses; and hostel accommodations, such as: hospitals, nursing homes, penal institutions, convents, monasteries, military and industrial camps, and collective types of accommodation such as: hotels, clubs, and lodging homes. Market Absorption Survey Methodology The Market Absorption Survey is carried out in conjunction with the Starts and Completions Survey in urban areas with populations in excess of 50,000. When a structure is recorded as completed, an update is also made as units are sold or rented. The dwellings are then enumerated each month until such time as full absorption occurs. STARTS AND COMPLETIONS SURVEY AND MARKET ABSORPTION SURVEY DEFINITIONS A dwelling unit, for purposes of the Starts and Completions Survey, is defined as a structurally separate set of self-contained living premises with a private entrance from outside the building or from a common hall, lobby, or stairway inside the building. Such an entrance must be one that can be used without passing through another separate dwelling unit. A start, for purposes of the Starts and Completions Survey, is defined as the beginning of construction work on a building, usually when the concrete has been poured for the whole of the footing around the structure, or an equivalent stage where a basement will not be part of the structure. The number of units under construction as at the end of the period shown, takes into account certain adjustments which are necessary for various reasons. For example, after a start on a dwelling has commenced construction may cease, or a structure, when completed, may contain more or fewer dwelling units than were reported at start. A completion, for purposes of the Starts and Completions Survey, is defined as the stage at which all the proposed construction work on a dwelling unit has been performed, although under some circumstances a dwelling may be counted as completed where up to 10 per cent of the proposed work remains to be done. The term absorbed means that a housing unit is no longer on the market (i.e. has been sold or rented). This usually happens when a binding contract is secured by a non-refundable deposit and has been signed by a qualified purchaser. The purpose of the Market Absorption Survey is to measure the rate at which units are sold or rented after they are completed, as well as collect prices. 28

29 DWELLING TYPES: A Single-Detached dwelling (also referred to as Single ) is a building containing only one dwelling unit, which is completely separated on all sides from any other dwelling or structure. Includes link homes, where two units may share a common basement wall but are separated above grade. Also includes cluster-single developments. A Semi-Detached (Double) dwelling (also referred to as Semi ) is one of two dwellings located side-by-side in a building, adjoining no other structure and separated by a common or party wall extending from ground to roof. A Row (Townhouse) dwelling is a one family dwelling unit in a row of three or more attached dwellings separated by a common or party wall extending from ground to roof. The term Apartment and other includes all dwellings other than those described above, including structures commonly known as stacked townhouses, duplexes, triplexes, double duplexes and row duplexes. Intended market: The intended market is the tenure in which the unit is being marketed. This includes the following categories: Freehold: A residence where the owner owns the dwelling and lot outright. Condominium (including Strata-Titled): An individual dwelling which is privately owned, but where the building and/or the land are collectively owned by all dwelling unit owners. A condominium is a form of ownership rather than a type of house. Rental: Dwelling constructed for rental purposes regardless of who finances the structure. Geographical terms: A census metropolitan area (CMA) or a census agglomeration (CA) is formed by one or more adjacent municipalities centred on a large urban area (known as the urban core). The census population count of the urban core is at least 10,000 to form a census agglomeration and at least 100,000 to form a census metropolitan area. To be included in the CMA or CA, other adjacent municipalities must have a high degree on integration with the central urban area, as measured by commuting flows derived from census place of work data. CMAs and CAs contain whole municipalities or Census Subdivisions. A Rural area, for the purposes of this publication, is a centre with a population less than 10,000. All data presented in this publication is based on Statistics Canada s 2006 Census area definitions. 29

30 CMHC Home to Canadians (CMHC) has been Canada's national housing agency for more than 65 years. Together with other housing stakeholders, we help ensure that the Canadian housing system remains one of the best in the world. We are committed to helping Canadians access a wide choice of quality, environmentally sustainable and affordable housing solutions that will continue to create vibrant and healthy communities and cities across the country. For more information, visit our website at You can also reach us by phone at or by fax at Outside Canada call or fax to supports the Government of Canada policy on access to information for people with disabilities. If you wish to obtain this publication in alternative formats, call The Market Analysis Centre s (MAC) electronic suite of national standardized products is available for free on CMHC s website. You can view, print, download or subscribe to future editions and get market information ed automatically to you the same day it is released. It s quick and convenient! Go to For more information on MAC and the wealth of housing market information available to you, visit us today at To subscribe to priced, printed editions of MAC publications, call All rights reserved. CMHC grants reasonable rights of use of this publication s content solely for personal, corporate or public policy research, and educational purposes. This permission consists of the right to use the content for general reference purposes in written analyses and in the reporting of results, conclusions, and forecasts including the citation of limited amounts of supporting data extracted from this publication. Reasonable and limited rights of use are also permitted in commercial publications subject to the above criteria, and CMHC s right to request that such use be discontinued for any reason. Any use of the publication s content must include the source of the information, including statistical data, acknowledged as follows: Source: CMHC (or Adapted from CMHC, if appropriate), name of product, year and date of publication issue. Other than as outlined above, the content of the publication cannot be reproduced or transmitted to any person or, if acquired by an organization, to users outside the organization. Placing the publication, in whole or part, on a website accessible to the public or on any website accessible to persons not directly employed by the organization is not permitted. To use the content of any CMHC Market Analysis publication for any purpose other than the general reference purposes set out above or to request permission to reproduce large portions of, or entire CMHC Market Analysis publications, please contact: the Canadian Housing Information Centre (CHIC) at mailto:chic@cmhc.gc.ca; or For permission, please provide CHIC with the following information: Publication s name, year and date of issue. Without limiting the generality of the foregoing, no portion of the content may be translated from English or French into any other language without the prior written permission of. The information, analyses and opinions contained in this publication are based on various sources believed to be reliable, but their accuracy cannot be guaranteed. The information, analyses and opinions shall not be taken as representations for which or any of its employees shall incur responsibility. 30

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31 Housing market intelligence you can count on FREE REPORTS AVAILABLE ON-LINE n Canadian Housing Statistics n Housing Information Monthly n Housing Market Outlook, Canada n Housing Market Outlook, Highlight Reports Canada and Regional n Housing Market Outlook, Major Centres n Housing Market Tables: Selected South Central Ontario Centres n Housing Now, Canada n Housing Now, Major Centres n Housing Now, Regional n Monthly Housing Statistics n Northern Housing Outlook Report n Preliminary Housing Start Data n Renovation and Home Purchase Report n Rental Market Provincial Highlight Reports Now semi-annual! n Rental Market Reports, Major Centres n Rental Market Statistics Now semi-annual! n Residential Construction Digest, Prairie Centres n Seniors Housing Reports CMHC s Market Analysis Centre e-reports provide a wealth of detailed local, provincial, regional and national market information. Forecasts and Analysis Future-oriented information about local, regional and national housing trends. Statistics and Data Information on current housing market activities starts, rents, vacancy rates and much more. Get the market intelligence you need today! Click to view, download or subscribe. Are you interested in housing research? Stay up-to-date with the latest housing research findings and events related to sustainable housing and communities, housing conditions and trends, housing finance and more. Subscribe Today to CMHC s Housing Research E-Newsletter!

HOUSING NOW Calgary CMA

H o u s i n g M a r k e t I n f o r m a t i o n HOUSING NOW Calgary CMA C a n a d a M o r t g a g e a n d H o u s i n g C o r p o r a t i o n Date Released: June Table of Contents Home Market Calgary housing