Space in Calgary's once constricted downtown office market could soon be a little easier to come by.

While ranked as the tightest market in Canada in a report from Avison Young, the vacancy rate in the downtown core could escalate alongside new developments set to enter the market.

As summer sadly draws to a close, one of Canada's top economists is forecasting the nation's housing market could see things heat up.

Citing recent CREA numbers, Douglas Porter, chief economist for BMO Capital Markets, said while some predicted a downturn of varying degrees for the nation's housing sales, the question now isn't how low sales will fall but rather how high they'll climb.

Calgary is a happening place these days. The recent release of Calgary's Civic Census showed the population is up to more than 1.14 million people, an increase of almost 30,000 people compared to 2012. Those people need places to live as evidenced in the news that Calgary is on pace to record one of its highest yearly totals in the real estate market. How much do you know about Calgary's population and real estate market?

The fall rush of post-secondary students back to Calgary schools will put the already tight rental market under even greater pressure.

Since Canada Mortgage and Housing Corporation's (CMHC) last report on Calgary's rental market in April, the city has witnessed census numbers showing near-record population growth and flooding that seriously impacted both owners and renters.

Finding housing in Calgary's postflood rental market is proving a difficult task for an organization that helps locate housing for those involved in the criminal justice system.

Bryan Sali, housing locator for the Calgary John Howard Society, is one of those who sifts through the city's dwindling numbers of vacancies in an attempt to find suitable housing for his clients.

The Canada Mortgage and Housing Corporation (CMHC) have implemented new rules on guarantees it offers banks and other lenders. A move CREB®'s president said is a step to control a market the agency feels is "overheated".

In a note to lenders, the agency said it would be restricting banks and mortgage companies to a maximum of $350 million of new guarantees this month under the National Housing Act Mortgage-Backed Securities program.

Brookfield Office Properties Inc. has announced Cenovus Energy Inc. will be the anchor tenant for their new 56-storey, 247-metro tower in downtown Calgary.

Expected to create 1,300 construction jobs and 7.5 million construction man-hours in Calgary, the entire project calls for an additional office tower totaling approximately one million square feet, a 60-foot-high transparent glass pavilion, restaurants, retail shops and amenities at street level, and underground parking accommodating 1,100 parking stalls.

Calgary's housing vacancy rate is a priority Mayor Naheed Nenshi told reporters at the July 25 release of the Civic Census.

"We really need to prioritize (the vacancy rate)," Nenshi said. "We have needed for some time to prioritize housing that matches the needs of the market and we need to continue to do that."