Calgary Economy

[suburb]

CREB update for Calgary housing continues a diverging trend between detached homes and apartments.

August 2020 - Detached (y/y change)
Sales: +5%
New listings: -7%
Inventory: -15%
Months of supply (actual): -19% (3.27)
Benchmark: +1%

August 2020 - Apartment (y/y change)
Sales: -20%
New listings: -9%
Inventory: -1%
Months of supply (actual): +24% (7.44)
Benchmark: -2%

Clearly detached is doing alright, but not so much for apartments. The sales being down 20% when they are up for detached is extremely concerning. The result is the increase in months of supply - more than double detached! This suggests more continued pressure on apartments.

REF: https://www.creb.com/-/media/Public/...mary.pdf?la=en