Oct. 31, 2016 | CREBNow
CMHC assessment unchanged from April
Calgary's housing market continues to exhibit signs of over-valuation as economic and demographic fundamentals have altered demand, says a new report.
In its housing market assessment released this week, Canada Mortgage and Housing Corp. (CMHC) noted moderate signs of over-valuation tag due to labour market conditions that have been weak and the seasonally adjusted unemployment rate averaged 8.3 per cent, up considerably from the preceding 10-year monthly average of five per cent.
It's the second time this year that CMHC has noted problematic conditions in Calgary's housing market, the last time being in April.