BMO’s report released today ties in nicely to a post from earlier this month which compared Calgary’s 2006 real estate market to now.
The report concludes with this summary: “Alberta’s (and more specifically, Calgary’s) housing market is quickly heating up again. Barring a sudden drop in oil markets, home prices have further to run and homebuilders will get busier in the year ahead, but a throwback to 2006/07 is still a stretch. For policymakers, this is clearly a case of superior economic and demographic fundamentals at work, not a bubble rearing its head.”
To download BMO’s report, click here (begins on page 8)