Calgary’s population has reached 1,149,552; this is an increase of 29,327 residents from the previous year when the Civic Census showed the city’s population was 1,120,225. This is an increase of 2.62%, similar to the level of population growth reported in 2012.
The number of housing units, both existing and under construction continued to rise, increasing by 9,019 to 468,358; an increase of 1.96%.
There are currently 442,558 occupied dwellings. Of those, 303,166 or 68.5% are owner-occupied.
There’s no rocket science involved in understanding why we have a shortage of listings, and will continue to do so.
Read more City releases 2013 census
Bob's real estate blog 
Hi Bob
Prices increased this year by 8% Its crazy. With that logic, by 2023, a house thats $461,821 now will be $997,036. I don’t buy it…
Jun-13 $461,821.00 8%
Jun-14 $498,766.68 8%
Jun-15 $538,668.01 8%
Jun-16 $581,761.46 8%
Jun-17 $628,302.37 8%
Jun-18 $678,566.56 8%
Jun-19 $732,851.89 8%
Jun-20 $791,480.04 8%
Jun-21 $854,798.44 8%
Jun-22 $923,182.32 8%
Jun-23 $997,036.90 8%
I’m not a garth follower, nor am I totally following what you say. I have my own feelings about where things are going to go. I don’t foresee a huge drop but I think we’re just about running into resistance on prices…
I don’t have any stats on what salary increases are per year but I can’t really see in 10 years, houses basically doubling.. unless I had 2 wives that both worked how the heck would I (I do above average in Calgary) afford any of these places?
House prices went on a terror the past 10 years, and as far as I know salaries didn’t double. What did happen was interest rates dropped, amortization went up… and what people basically were paying per month kept the same.
Interesting times.
My logic tells me that you can’t predict prices 10 years in advance when there are so many factors that go into determining the price. I can tell you that it is mostly dependent on inventory. As soon as we have 3500 sfh listings, you’ll see the price stabilize or drop. -Bob
1) 8% per year isn’t that much of a deal. If you look all the way back from post WW2, that’s about the amount you should expect as a long term average.
2) Why should an average income support an average house? Is that from the constitution or from a physics book? You don’t even need to look at HongKong, just look at Vancouver. The price is really off the hook from the income level. The top 10% income earner will have no difficulty buying a house no matter what. Maybe another 60% will get their house by inheritance. How about the remaining 30%? They can keep renting.
3) If you don’t think that’s fair, know that very smart people have already debated the issue to death. They wrote books on it, they organized movements, they went violent and they even killed the Czar! But they failed because only equality in opportunity works, while equality in wealth will never work.