According to Real Estate Wealth Magazine there are two key reasons for the increase in demand for condos in Calgary; "Job growth and population gains have put greater pressure on demand. Unlike Toronto and Vancouver, prices have been relatively flat here leading up to 2012, and the expectation is that they are going to continue to see upward movement in the next few years. The vacancy rate drop from 3.4% to 2.5% shows a dramatically shifting market that's only just starting to point forward again after a few very slow years. Demand has finally caught up with previously overbuilt supply."