When the novel coronavirus arrived in Alberta, residents and managers of tightly packed multi-family housing developments quickly realized special precautions were necessary to keep people safe and healthy.

For many Calgarians practicing social distancing and self-isolation for more than a month now, staying home is no slumber party. Those coexisting in smaller spaces with a romantic partner and/or roommate(s) might be struggling, as they strive to live, work and play peacefully – often in less than 1,000 square feet.

After a strong start to 2020, economic conditions have dramatically changed, as COVID-19 is impacting all aspects of society.

The economic impact is starting to be felt across many industries. This includes the housing market.

Despite real estate's recent shift to virtual showings and meetings conducted via Skype and Zoom rather than in person, Rohit Communities continues to place relationship building at its core.

One of the key factors impacting the Calgary resale housing market in the last year or so has been affordability.

With economic uncertainty top of mind due to the collapse in oil prices and the COVID-19 crisis, prospective homebuyers are increasingly looking for more affordable options when making a purchase.

That will likely lead to more demand in the condominium apartment market in the future.

A deposit is the first financial hurdle a homebuyer needs to clear when buying a pre-construction home.

That deposit is generally five per cent of a home's total value for a purchase of less than $500,000, but it can be as high as 20 per cent for a $1-million-plus home. Those funds are a pre-construction commitment to the builder to take that condo or single-family home off the market. That money also gets put toward your eventual down payment.

The Bow Collection

This grouping of eight exclusive duplex-style homes, located in the sought-after community of Three Sisters, sits adjacent to the Stewart Creek Golf Course. Wrap-around decks, double-attached garages, landscaped yards and no maintenance fees make these homes extremely desirable. Prices start at just under $1 million.

A type of Canmore real estate whose popularity and profitability had plateaued is reaching greater heights thanks to new economic trends.

Hotel-style condominium units in Canmore have seen their rental potential soar thanks to online listing websites like VRBO and Airbnb, providing another vacation-booking option for visitors to the increasingly popular region.

Housing market conditions continue to follow similar trends to last year, with gains in sales.

At the same time, there have been further reductions in new listings and inventory, and more declines in prices.

There is pent-up interest in the Canmore area for homes that can be used for short-term rentals, and Spring Creek's new Tamarack lodge is poised to take advantage.

The four-storey, 80-suite condo project is one of only a few developments in the mountain town with Tourist Home permitted zoning, allowing for short-term stays (under 30 days) or permanent residency.