Single-family new home sales in Calgary tick upwards
The Calgary new home market has shown resilience as it continues to deal with challenges surrounding the COVID-19 pandemic. Since the relaxation of the pandemic restrictions during the spring, demand for single-family homes has been comparatively robust, with new homes sales exceeding volumes noted during the summer months in 2019. This trend has been noted in most of the major markets in Canada, where sales of townhouse, semi-detached, and detached housing has recovered more quickly than multi-family built forms.
Looking ahead, the Calgary single-family new home market will continue to face challenges through the end of 2020 and into 2021. While there will continue to be some demand for new single-family homes, the potential for further disruption from a second wave of COVID-19 as well as ongoing challenges in the economy will continue to create headwinds for the market.