The Calgary residential construction industry's view on government policy at any level often hinges on housing affordability and choice, and these issues remain a point of emphasis for builders and developers as candidates for mayor and council hit the campaign trail.

In 2019, Calgary experienced a purpose-built-rental "boom" and 2020 is expected to be even hotter.

According to market research firm Urban Analytics, there are approximately 65 new purpose-built rental projects (totalling 19,225 apartment units) currently proceeding through the planning and construction processes.

For the past couple years, the Calgary condo market has been plagued by elevated inventory, but there has been some improvement in that area over the past year.

Let's look at some key stats that have defined the condo market so far this year in Calgary.

The arrow is pointing upwards for Calgary housing market as recovery continues

It's been a tough couple of years for Calgary's housing market, as it slowly recovers from the collapse of oil prices that started in 2014.

That pain created some deep wounds for the city's economy, which shed thousands of jobs and plunged into a recession for both 2015 and 2016. The light at the end of the tunnel began to materialize this year, and the recovery is expected to fully take hold in 2018.

That's good news for the real estate market, as job growth will fuel demand going forward.