Quote:
Originally Posted by GGG
In Calgary median family income supports the median detached dwelling. There is no evidence Calgary is overpriced.
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Calgary in 2019:
Median gross household income around $108k (GoA) and median detached home prices around $461k (CREB stats)
Calgary in 2023:
Median gross household income around $120k (GoA 2020 HHI) and median detached home prices around $656k (CREB stats)
The median household income supports home prices...for now. If inventories continue to stay low and home prices continue to rise as they have over the past 24-30 months, it won't be long before housing affordability becomes a serious issue in this city.