Article content

Calgary’s housing market remains “moderately” vulnerable due to evidence of overbuilding, the Canada Mortgage and Housing Corp. said Thursday.

In its quarterly housing market assessment, a report that identifies the level of housing market stability in Canadian cities, the CMHC said Calgary’s inventory of completed and unsold housing units increased in the second quarter of 2019. In addition, absorption of new housing units has been slowing compared to 2018, which has contributed to the oversupply.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Calgary housing market still vulnerable due to overbuilding: CMHC Back to video

The CMHC said Calgary remains a buyers’ market, and home prices are staying in line with market fundamentals. Apartment units continue to make up the largest proportion of overall housing inventory in Calgary, though the largest increase from the previous quarter was in single-detached units.

The CMHC report also identified evidence of overbuilding in Edmonton, Regina, Saskatoon and Winnipeg.