With the drop in oil in last few months, everyone is concerned what is going to happen with our economy. Although it’s to early to tell, here are a few other indicators to look at that help decipher the situation.
The employment market is one factor that can impact the demand for housing.
Employment statistics for the Calgary Census Metropolitan Area (CMA) are generated by Statistics Canada and updated on a monthly basis.
The forecast information included is provided by the Conference Board of Canada, and is updated three times a year.
The level of new home activity can impact the resale market, making it an important trend to follow.
Actual data is compiled by the Canada Mortgage and Housing Corp. (CMHC). Forecast information is provided by the Conference Board of Canada and is updated three times a year.
Population growth is comprised of natural increases and net migration. The level of new migrants has a strong relationship with housing demand.
Figures for the city are updated on an annual basis, with forecast estimates updated two to three times a year depending on the forecaster.
Data used includes information provided by the City of Calgary, Statistics Canada and the Conference Board of Canada.
The City of Calgary’s annual figures are based on the civic census data collected in April.
Statistics Canada completes a census every five years, providing annual population estimates in non-census years. Annual population estimates are as of July 1 of that year.
The Conference Board of Canada uses information provided by Statistics Canada and generates annual estimates and forecasts for the Calgary CMA.
The gross domestic product (GDP) growth is an estimate of economic health in the region.
Calgary CMA GDP figures are updated quarterly and often lag behind the current date. For example, if we are in the first quarter of the year, final estimates for the third quarter of the previous year would be available.
GDP estimates and forecasts are provided by the Conference Board of Canada and are updated three times a year.
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