10 US and Canadian Cities Converting Office Space Into Housing

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Written by: Jane Allison Gunn

Remote work has changed the nature of cities' downtowns. Once-bustling office towers see much less foot traffic as more companies have gone remote or hybrid, allowing employees more flexibility to work from home. Central-city housing is expensive—and homes in the suburbs aren't much cheaper.

In many cities, developers and officials alike are looking to convert offices and other types of commercial buildings into housing. This effort, called "adaptive reuse," is growing faster than new apartment construction in the U.S.

Former office buildings are of particular interest—of every five apartments converted, two used to be offices, per RentCafe. The trend has room to accelerate because…

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How the slowing housing market looks in the 5 most populated US and Canadian metros

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Written by: Dom DiFurio

North American markets have been rocked by several economic swings in recent years, not least of which include fluctuating housing market. In the wake of record-breaking home sale prices, an emerging housing correction now threatens to knock tens of thousands from home values across the U.S. and Canada.

Calgary.com compiled data on average home sale prices from the Canadian Real Estate Association and Redfin to understand how the slowing housing market is playing out across North America, examining housing data for the five biggest metros in the U.S. and Canada. Values for Canadian home prices are in Canadian dollars; U.S. home prices are in U.S. dollars.

At the start of this year, the U.S.…

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15 small cities that have become tech hubs

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Written by: Elizabeth Jackson

Some small North American cities are punching far above their weight when it comes to nurturing startups, innovative talent, and emerging tech businesses. These small cities' low cost of living, proximity to major research universities, and investment from city officials push them to the forefront of the tech scene.

Calgary.com examined data compiled by commercial real estate firm CBRE Group to find small cities and metro areas that have become tech hubs in recent years. Each city or metro area had to have 1 million or fewer workers to be included. To be considered a tech hub in the study, markets had to have a high number of college graduates, a large millennial population, and be…

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The most popular home type in each Canadian province

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Written by Elizabeth Jackson

Canada is a geographically vast country, made up of 10 provinces, each with its own unique characteristics. Some are known for their urban metropolises, others for their natural beauty and wilderness. Still, others are a blend of both. Some provinces are home to younger people and families, while others have a greater demographic mix.

And these factors may influence what types of homes in which people in these provinces choose to live. Apartments were most common nationwide, making up more than half of the units, while single-family homes made up at least 1 in 4. Often trailing behind these are row houses, which share common walls with other units, and semi-detached homes, duplex units often called semis,…

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The Cost of a Home Is Relative

While some Calgarians shudder to think that the average price of a home has gone up to $534,000 in 2015, they should consider themselves lucky. The average home price for a detached house in Toronto reached the $1 million mark in February. In Toronto, there was a shortage of listings for single detached homes last month, down 8.7%, which led to the higher price gains. Bidding wars for detached housing in Toronto continues due to the housing shortage.

While the Toronto real estate market is seeing these high numbers, purchasing a home in that city isn't as bad as trying to buy one in Vancouver. According to the Demographia International Housing Affordability Survey, the affordability ranking for Vancouver this year is the worst ever in the 11 years…

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Easing Demand for Housing Will Bring about Price Stability

It's predicted that housing sales in the Calgary area will be easing this year by 4% due to the economic changes and market uncertainty. The Calgary Real Estate Board issued its annual forecast today and it indicates that a 1.58% modest increase in home prices can be expected in 2015.

Price stability and a more balanced market should be seen within the next 12 months. The combination of an easing market and the tight market conditions that were seen in 2014 will lead to this balanced market. It's estimated that 24,503 homes in total will be sold across Calgary in 2015.

The ultimate figures, of course, may be impacted by an extended period of instability in the energy sector, which would affect net migration into the city along with employment…

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December 2014 Calgary Real Estate Statistics

December was an interesting month in terms of Calgary real estate sales. As the year came to an end, it was evident that condominiums and townhomes had become a driving force in home sales.

December was the first month in about 2 years where sales decreased on a year-over-year basis. At the same time, however, it was the 35th month in a row that sales price increases were recorded. House prices went up last month by 4.5% to an average of $475,036 while sales went down by 7.5% to 1,083.

Last year was a record-setting year for home prices with the median price reaching $427,000 and the benchmark price going up to $411,417. Last year was also the fourth highest in terms of single-family sales with 17,185 units sold. This was an increase of 5.5% over…

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Alberta Sees More Interprovincial Migration than Any Other Canadian Province

More and more people are making their way to Alberta from other parts of the country, and many of these new migrants are young people. According to a new report issued by the Fraser Institute, approximately 60,855 young career-age adults moved into Alberta from other provinces from 2003 up to 2012.

The report shows that Alberta is at the top of the list for interprovincial migration followed by the provinces of Saskatchewan and British Columbia. In fact, Alberta, Saskatchewan and British Columbia are the only provinces that saw a gain in this young migration during these years. The other Canadian provinces showed a loss of young people.

Most of the young adults that are flooding into Calgary and Alberta have come for employment opportunities. The…

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