Jan. 13, 2015 | Cody Stuart
Tight market should create more buyers in 2015
The city's tight rental market is expected to spur even more Calgarians into becoming homebuyers in 2015.
Impacted by the same market forces that resulted in record home sales and rising prices in 2014, Calgary's rental housing market saw its own banner of sorts last year. With the vacancy rate amongst the lowest in Canada - between one and 1.4 per cent throughout the year – Calgary rents conversely ranked as the highest in all of Canada. According to Canada Mortgage and Housing Corp. (CMHC), monthly rents for a two-bedroom unit increased by 5.9 per cent over the $1,224 seen in October of 2013 to $1,322 in 2014.