Ben Rabidoux, an analyst and strategist with M Hanson Advisors, has a new post on his The Economic Analyst blog detailing the good, the bad, and the ugly on Canada’s housing and macro economic front.
Below is an excerpt for Calgary:
Not much negative to say about Calgary’s rock-solid real estate market at this point. Sales are still reasonably strong (down slightly on a y/y basis, but not alarmingly) while active MLS inventory is very low.
On top of that we see very strong population growth in the province and very low new units in the pipeline.
Calgary looks solid for now, but I’m watching it closely. In particular watch the highly publicized WTI-WCS oil price spread, which has narrowed significantly in recent months. Should that once again widen and/or oil prices slump, Alberta’s fortunes can turn on a dime.
Which Canadian markets are looking bad or ugly? Which market is described as a “complete gong show” and a possible “disaster in the works?” (Hint: It’s not Vancouver or Toronto)