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.

Priding itself on being "one of the fastest growing communities in Canada", the numbers coming out of Airdrie certainly don't do anything to dispel the assertion.

In keeping with the claim, the city's population grew by nearly six per cent in 2012, climbing to 45,711 residents and more than doubling Calgary's 2013 growth rate of 2.62 per cent.

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."

With flooding putting pressure on an already tight rental market, the head of one Calgary housing agency said demand has grown exponentially.

David Watson, director of Attainable Homes Calgary Corporation (AHCC) – the non-profit organization that works to deliver entry-level homes for Calgarians – said over the last year, interest has increased substantially.

With the release of CREB®'s monthly stats, Calgary's residential sales totaled 2,268 units in July, a 17 per cent increase over last year and a six per cent increase year-to-date.

CREB®'s Chief Economist Ann-Marie Lurie said recent flooding likely contributed to sales activity.