buying homes calgary

Calgary 2020 Market Forecast

Since the oil price crash, Calgary has faced job losses, wage reductions and tightening national housing policy. These factors have all contributed to the slower sales environment, excess supply and citywide price adjustments of more than 10%.

However, as Calgary moves into the sixth year of this cycle, there are indications of adjustments to these conditions throughout the housing market.

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Calgary Market Insider January 2020

December sales improved to levels more consistent with activity recorded over the past five years. This follows weak sales activity last year.

A stronger second half in 2019 was enough to push annual sales up by 1%. “Price declines, lower mortgage rates and some modest improvements in full-time employment helped support some demand growth in the city. Reductions in supply are also contributing to the slow adjustment to more stable conditions in the housing market,” said CREB® chief economist Ann-Marie Lurie.

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Market Insider August 2019

Sales improving and inventory declines for fourth month in a row…

For the fourth consecutive month, inventories in the market declined compared to last year. This is due to the combination of improving sales and a decline in new listings.

The market continues to favour the buyer, but a continuation in supply reduction compared to sales is needed to support more balanced conditions. Continue reading

Mid Year Market Insider

Modest supply reductions may signal shift to balanced housing market by end of year…

A struggling energy sector continues to weigh on the overall economy. Unemployment levels remain elevated and income growth remains weak.

However, Calgary continues to benefit from stable population growth fueled by international migration and natural increases. Continue reading