Calgary and Alberta's commercial markets have continued to make post recession headlines.

"The industry in Calgary has rebounded rapidly since the recession, bolstered by strong growth in employment, retail sales and investment in resource based supporting industries," said a BMO Economics commercial real estate outlook.

Having long provided an affordable entry into the housing market, Calgarians are again turning to the condo sector as a way to make their homebuying dreams a reality.

According to CREB®, sales in the apartment and townhouse sector recorded annual increases of 12 and 16 per cent, respectively, in 2012, despite a decline in listings.

A likely factor in the rising demand for Calgary condos is the lack of availability in the city rental market. According to the Canada Mortgage and Housing Corporation's (CMHC) Fall Rental Market report for the city, the apartment vacancy rate in the Calgary CMA declined to 1.3 per cent in October 2012.

East Village is on its way to becoming one of Calgary's most sought after neighbourhoods.

"Starting this year it's fast forward again, it hasn't slowed down at all actually which is really great," said Susan Veres, vice president marketing and communications for the Calgary Municipal Land Corporation (CMLC).

"We finished the year last year (and) interest in the remaining parcels of land was really quite high so our focus last year and this year will be on commercial development, less on the multifamily side."

With two kids, two cars and a dog, the Robsons are the image of the typical family.

Having purchased a larger home in the city's northwest to accommodate their growing family, the Robsons are typical in another way as well, as they're part of a growing number of Calgarians who are upgrading to bigger and more expensive homes.

With reports predicting doom and gloom for much of the Canadian housing market, Calgary continues to chug along, and should continue to be one of the country's top performers in 2013.

According to BMO's first housing panel of the year, the word is Calgary will continue to buck national trends while the rest of Canada will experience a "soft landing" after a decade long boom.

If you were to choose a theme for real estate in the Calgary area in 2012, perhaps it would be the "year of the pleasant surprise".

Heading into 2012, CREB® predicted an 11 per cent increase in sales, citing the persistent record low interest rates that have greeted Canada homebuyers since 2009 as a key contributor to the increase. Instead, the Calgary area experienced a 23 per cent increase in year-over-year sales in October and is headed for equally positive numbers by the end of the year.

A new development is set to take over from the stalled second phase of the Riverside Quays projects in Inglewood.

Named for it's location along banks of the Bow River in southeast Calgary's, M2i Development Corp's mixed-use SoBow development will include a 120-unit residential building dubbed 1912Cross.