Viani Real Estate Group : Blog : Latest Blog Posts

High-density supply impacts apartment condominium prices

Fri, 03 Jul 2026 16:39:27 GMT

Calgary, Alberta, July 2, 2026 – June sales in Calgary improved over May, reaching 2,197 units. Despite the monthly gains, sales were nearly four per cent lower than last year and just below the long-term average for June, largely due to pullbacks in apartment-style units. While sales are down across most price ranges so far this year, there have been gains in both the highest price ranges and the most affordable ranges across most property types.

“The easing of demand for resale homes does not come as a surprise given the recent decline in migration, which is impacting both rental and ownership demand for higher-density homes. The bigger change in our market relates to inventory, which has been on the rise in the rental, resale and new-home markets following several consecutive years of record-high housing starts,” said Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board (CREB®). “Inventory growth has mostly occurred in high-density homes, resulting in buyer’s market conditions and steep price adjustments for condominium apartments. While it will take time to absorb the high-density supply, detached supply growth has been limited and some districts are reporting record-high prices.”

New listings are starting to pull back compared with 2025 and the sales-to-new-listings ratio rose to 56 per cent. This has slowed the pace of inventory growth in the market and kept the months of supply at just over three months. This is considered a balanced range in the city, but conditions vary across property types. The apartment condominium sector is experiencing buyer’s market conditions, with the months of supply at nearly five months and a sales-to-new-listings ratio of 45 per cent.

The range of conditions is also impacting prices. In June, the unadjusted benchmark price was $572,500, up over the previous month and two per cent below levels reported last June. However, apartment-style properties have reported an annual decline nearing nine per cent, leaving condominium prices in June at $299,000. Meanwhile, the benchmark price for a detached home rose over the previous month, reaching $750,500, one per cent below last year’s level, with most of the adjustments driven by specific pockets of the market.

Detached

Sales activity in June reached 1,202 units, in line with last year’s levels, as gains for homes priced over $1,000,000 and under $600,000 offset pullbacks in the other price ranges. Sales growth in these segments was partly supported by increases in new listings and inventory growth in those same ranges. While overall inventories have remained in line with last year’s levels and conditions remain relatively balanced, the pullback in new listings this month caused the sales-to-new-listings ratio to rise to 60 per cent. Despite balanced conditions citywide, the North East and East districts are experiencing excess supply relative to demand. In these districts, the months of supply is elevated and the sales-to-new-listings ratio is below 50 per cent. Relatively balanced conditions have supported monthly price gains since the start of the year. It is only the City Centre and West districts that have recorded enough of these gains to reach record-high prices in June. The West district, which has also been experiencing seller’s market conditions, has reported the strongest year-over-year growth at nearly four per cent. Meanwhile, buyer’s market conditions in the North East are contributing to price declines nearing seven per cent. As of June, the citywide benchmark price was $750,500, up over the previous month and over one per cent lower than last year.

Semi-Detached

Improving sales in June were nearly enough to offset earlier pullbacks, leaving year-to-date sales down by only one per cent compared with last year. The 234 sales in June were met with 363 new listings, pushing the sales-to-new-listings ratio back above 60 per cent and slowing the pace of inventory growth compared with earlier in the year. With two and a half months of supply, conditions remained relatively balanced and continued to support stable prices. In June, the unadjusted benchmark was $694,600, up over the previous month and similar to levels reported last June. Similar to the detached sector, price movements vary significantly across the city. Compared with last year, prices have improved in the North West, West and City Centre districts, reaching a new record high in June while the steepest declines occurred in the North East at nearly six per cent.

Row

June saw a pullback in both sales and new listings activity, causing the sales-to-new-listings ratio to rise to 55 per cent. This prevented any further gains in inventory levels, which remain above long-term trends. With 1,152 units in inventory and 338 sales this month, the months of supply sat at nearly three and a half months. While this is higher than both the detached and semi-detached sectors, it remains within the upper end of a balanced range. Additional supply choice has led to price adjustments. Year-over-year declines have occurred across all districts, ranging from two per cent in the South to 10 per cent in both the North East and East districts. Unadjusted prices improved in June over the previous month, as gains in the City Centre, North West and South districts offset pullbacks in the East, North East, West and South East districts.

Apartment Condominium

Sales in June continued to fall compared with last year, causing year-to-date sales to decline by 26 per cent to a total of 2,260 units. While new listings eased this month, the 931 new listings and 423 sales kept the sales-to-new-listings ratio at 45 per cent. In June, inventory levels reached 2,076 units – slightly lower than last June’s level but more than 24 per cent above typical inventory levels. This kept the months of supply at around five months, contributing to further price adjustments. In June, the unadjusted benchmark price was $299,000, down over the previous month and nearly nine per cent lower than last year. Prices have declined across all districts, with decreases exceeding 14 per cent in the North East and East districts. The smallest decline occurred in the North West district at seven and a half per cent.

REGIONAL MARKET FACTS

Airdrie

Sales in June continued to ease compared with last year, contributing to a year-to-date decline of 14 per cent. New listings also eased this month, but with a steeper pullback in sales, the sales-to-new-listings ratio fell to 47 per cent. June inventory levels rose to 538 units. Higher inventory and slower sales pushed the months of supply above four months. Elevated levels of supply in Airdrie, along with increased competition from neighbouring and new home markets, have weighed on resale prices. In June, the unadjusted benchmark price was $516,900, up slightly over the previous month but nearly four per cent lower than last year. Prices declined across all property types, with larger decreases observed in higher-density homes.

Cochrane

Easing sales in June did not offset earlier gains, as year-to-date sales of 569 units were slightly higher than last year’s levels. Meanwhile, new listings also eased, keeping the sales-to-new-listings ratio above 60 per cent. Inventory levels eased slightly from the previous month, reaching 323 units in June. The monthly pullback in inventory did not outpace the pullback in sales, causing the months of supply to push above three months. Despite the increase, relatively tight conditions have supported monthly price gains over the past five months. As of June, the unadjusted benchmark price was $580,200, less than two per cent lower than prices reported at this time last year.

Okotoks

With 89 new listings and 70 sales in June, the sales-to-new-listings ratio rose to 79 per cent, preventing any further monthly gains in inventory levels. Inventory has improved compared with last year but remains below long-term trends, especially for detached homes. While conditions are more balanced compared to last year, lower supply levels have helped keep prices stable. In June, the unadjusted benchmark price was $618,600, similar to the previous month and less than two per cent lower than last June.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy CREB

Buying vs Renting: If You’re Paying $1,800 in Rent, What Could You Actually Buy?

Tue, 23 Jun 2026 22:17:48 GMT

After years of renting, you may be wondering if you’re better off buying a home. The rent vs buy decision isn’t an easy one, but breaking it down to dollars and cents can give you a better picture of what home ownership would look like given your finances. To create this guide, we asked REMAX real estate experts for the most accurate and up-to-date information about what you can actually buy if you’re paying $1,800 in rent.

Key Takeaways

At 4.5% interest with 20% down over 25 years, a total housing budget of $1,800/month supports a purchase price of roughly $330,000–$340,000 once all carrying costs are included.
Total costs to buy vs rent include property taxes, insurance, maintenance, and potential condo fees, which all need to be factored into your monthly housing budget.
A larger down payment is a good idea: it reduces your monthly mortgage payment and eliminates the need for CMHC mortgage default insurance.
Buying isn’t always the better financial move. If you’re likely to move within a few years or need to keep cash on hand, renting may make more sense for you right now.
A rent vs. buy calculator lets you explore different scenarios (down payment size, purchase price) so you can see exactly how each variable affects what you can afford.

How Much Are Mortgage Payments?

A good place to start the buying vs renting evaluation is to figure out whether your mortgage payments will be substantially higher than your rent. For this calculation, you need four inputs:

The home’s purchase price
Your down payment
Your interest rate
The amortization period

This table estimates mortgage payments for homes at a range of prices using an interest rate of 4.5%, a 20% downpayment, and a 25-year amortization.

Purchase Price Down Payment (20%) Mortgage Amount Est. Monthly Payment

$250,000 $50,000 $200,000 ~$1,089

$300,000 $60,000 $240,000 ~$1,307

$350,000 $70,000 $280,000 ~$1,525

$400,000 $80,000 $320,000 ~$1,742

$450,000 $90,000 $360,000 ~$1,960

$500,000 $100,000 $400,000 ~$2,178

$600,000 $120,000 $480,000 ~$2,613

$700,000 $140,000 $560,000 ~$3,049

$800,000 $160,000 $640,000 ~$3,484

$1,000,000 $200,000 $800,000 ~$4,355

Note: Table is for illustrative purposes only. Actual mortgage payments will vary based on current interest rates, lender terms, mortgage type, and individual financial circumstances. Payments shown reflect principal and interest only and do not include property taxes, home insurance, condo fees, or maintenance costs. Discuss your personal situation with a licensed mortgage professional for advice.

The Full Rent vs Buy Comparison

Calculating mortgage payments is a good place to start comparing buying vs renting a home, but it’s not the whole story. To make a sound decision, add in the additional costs of home ownership. These include:

Property taxes.
Homeowners insurance.
Condo fees or HOA fees, if applicable.
Maintenance costs (ballpark 1% to 2% of the home’s cost annually).
Utility payments (particularly relevant if utilities are included in your rent).
CMHC insurance (if your down payment is less than 20%).

Using a rent vs buy calculator can help you figure out your total costs and also understand how each figure affects that total. Plug your numbers in and see which ones make the biggest difference for your situation. Try changing the figures to see where you can adjust your planning and expectations for the outcomes you want. For example, saving for a larger down payment will cut your monthly loan payments and save you the cost of CMHC insurance.

What You Can Buy With Your $1800 Budget

Switching from renting to buying on $1800/month is challenging but doable. Assuming:

$1800/month is your total housing budget
20% down payment
5% interest rate and a 25-year amortization
Property taxes of ~1% of your purchase price annually (this varies considerably by municipality; check for local rates)
Home insurance of ~$150/month
Maintenance costs of ~ $200/month

This leaves you with approximately $1,450 to $1,460 per month for the actual mortgage payment. That would put you in a home with a sale price of $330,000 to $340,000. In expensive markets like Toronto and Vancouver, you’d be stretched with that budget, but in affordable markets, you could purchase a cozy starter home or a modern condominium. While you’re still renting, explore the options!

What You Give When You Buy

Deciding whether to buy or rent is a personal choice. Before making the leap into homeownership, it’s worth considering both the benefits and the responsibilities that come with buying a home.

Time and Energy

When you’re renting, all you have to do when something breaks is call the landlord. Owning a home means you have to do a lot of the work yourself, and that eats into your free time. Even seemingly simple tasks like mowing the lawn can take an entire afternoon, and when it comes to serious jobs like painting the exterior, you’re looking at a whole week when you would otherwise be on vacation. If you hire someone to do the work, you still need to vet the contractor and check up on the progress.

Mobility and Flexibility

If you decide to move from your rental, you just need to wait for your lease to expire. Then you can pick up and go to another apartment or another city. When you own a home, it’s not as easy to move. You may have to wait for a seller’s market for it to make financial sense. If circumstances require you to move quickly, you could end up having to sell at a loss.

Investment Potential

Buying a home means locking capital up in an investment that’s not liquid. Think of it like putting money in a term deposit that’s expensive to cash in and will only pay a good return if you leave your funds in it for years or even decades. If you rent vs buying, you can use that money for an investment that gives you a quicker and potentially larger return.

What You get When You Buy

Renting vs buying also has costs:

No Return on Investment

Since the money you pay in rent never comes back to you, you make no return on it at all. When you buy vs rent, you’re putting your money into a long-term investment that, historically, has paid a good return.

Less Control

Renting means you can call your landlord to fix any problems you have, but you have no control over how they fix it and what materials they use. You also can’t make structural changes to your space, and in many buildings, you can’t even paint the walls to suit your tastes.

Risk of Eviction

With a rental, there’s always a chance your landlord will evict you. This could leave you scrambling for a place to live when rents in your area have risen. You’ll also incur moving costs, even if you do most of the move yourself.

Running Your Own Numbers

If you’re making a rent vs buy decision, run the numbers using a rent vs buy calculator, which you can find online. Game out different scenarios to figure out what you can afford, where and how you can change the overall picture. For example, you might consider moving to a different part of the country, or even just outside your current area. You could save more for a down payment, which would reduce your mortgage payments, and you could improve your credit score for an easier time qualifying. Alternatively, you could decide that renting is the right option for you right now. There’s no one correct choice: just the one that’s right for you.

Frequently Asked Questions

Is $1,800/month enough to buy a home in Canada?

It depends on your market and how much you have saved for a down payment. Using $1,800 as your total monthly housing budget, you could afford a home priced around $330,000 to $340,000 with 20% down at current rates. In more affordable markets, you’ll have a range of options in starter homes and condos.

What costs should I add to my mortgage payment when comparing renting vs. buying?

Beyond the mortgage itself, budget for property taxes (roughly 1% of the purchase price annually, though this varies by municipality), home insurance (approximately $150/month for a typical home), and maintenance (1–2% of the home’s value per year). If you’re buying a home in a condo or strata community, add those monthly fees as well, but subtract some of the maintenance. If your rent currently covers utilities, factor those in too.

What is CMHC insurance, and do I have to pay it?

CMHC mortgage default insurance is required by Canadian lenders when your down payment is less than 20% of the purchase price. The premium ranges from 2.8% to 4% of the mortgage amount and is typically added to your loan balance. Putting down 20% or more eliminates this cost entirely.

Is buying always better than renting in the long run?

Not necessarily. Buying builds equity over time and historically has delivered solid long-term returns, but it also ties up your money, limits your mobility, and comes with ongoing costs that you don’t have when you rent. If you plan to move within two to three years, the transaction costs of buying and selling can outweigh the equity you build by owning. The right answer depends on your financial situation, your timeline, and your local market.

How can I figure out what I can actually afford?

Start with a rent vs. buy calculator to look at different purchase prices, down payments, and interest rates. Then add your estimated carrying costs to get a realistic total monthly figure. A real estate agent can give you details of what’s available in your price range, and a licensed mortgage professional can help you with the financial side.

Courtesy REMAX LLC

Apartment prices ease as inventory remains elevated

Wed, 03 Jun 2026 07:19:31 GMT

Calgary, Alberta, June 1, 2026 – In line with seasonal trends, inventory has risen from the start of the year, reaching 6,752 units in May. While these levels are consistent with last May, they remain 11 percent higher than longer-term trends for the month, thanks to higher supply levels of apartment and row-style homes. Meanwhile, inventory levels for detached homes are down three per cent compared with both last year and long-term trends.

At the same time, sales activity has been slowing. Calgary sales in May were 2,162 units, 16 percent lower than last year’s levels and similar to sales reported in April. While new listings also slowed by 13 percent compared with last year, it was not enough to offset the pullback in sales, causing the sales-to-new-listings ratio to ease to 51 percent. The lower ratio also contributed to some of the inventory build, causing the months of supply to rise. However, conditions do vary across the market, with a range of two-and-a-half months of supply in the detached market to more than five months of supply in the apartment condominium market.

“The shift in supply is being felt in the market. More supply choice in the new and rental markets has created a more competitive environment for potential buyers. At the same time, concerns over rising cost of living and slower migration are also weighing on consumers,” said Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board (CREB®). “While this has caused the overall resale market to shift to a balanced state, the supply pressure is having a more prevalent impact for apartment-style units, where conditions are favouring the buyer. This is also impacting price movements, with apartment prices continuing to trend down and other property types reporting a seasonal lift over the winter months.”

The unadjusted total residential benchmark price in May was $570,500, up over April’s levels and the $554,400 reported in January, but still three per cent lower than last May. Most of the unadjusted monthly gain was driven by detached homes, which rose from $724,000 in January to $747,800 in May. Apartment prices remain lower than January levels and are nine per cent lower than levels reported last May. Overall, when adjusting for seasonality, total residential prices have remained relatively stable, as detached improvements have offset pullbacks for apartment-style homes.

Detached

Detached new listings reached 2,195 units in May compared with 1,192 sales, causing the sales-to-new-listings ratio to ease to 54 percent compared to the higher levels reported over the past three months. This supported a monthly lift in inventory levels, but supply remained three per cent lower than levels reported last year at this time. With two-and-a-half months of supply, conditions remain relatively balanced and are supporting stability in seasonally adjusted prices. Within the detached market, there is some significant variation. While year-to-date sales have slowed by four per cent, there have been gains for the lowest-priced (under $600,000) and highest-priced ($1.5 million and up) homes. Within each district, conditions ranged from a seller’s market in the West district to a buyer’s market in the North East district. The variation is also impacting price movements. The North East district is reporting the highest year-over-year decline at seven per cent. Meanwhile, thanks to recent gains, the West district has seen prices remain consistent with levels reported last year.

Semi-Detached

Both sales and new listings in May remained at levels similar to the previous month. With 217 sales and 375 new listings, the sales-to-new-listings ratio was 58 percent, supporting some modest improvements in inventory levels. Despite inventory improvements, conditions remained relatively balanced, with months of supply sitting at just under three months. Unadjusted benchmark prices continued to rise in May, reaching $691,100. This is an improvement over the $667,000 reported in January, but still one per cent lower than levels reported in May 2025. Like the detached sector, conditions vary significantly across the city. Prices have been trending up across most districts. Meanwhile, year-to-date new record-high prices have been reported in the North West and West districts.

Row

Following April’s gains, May sales slowed, adding to the year-to-date decline of 16 percent. The 350 sales were met with 695 new listings, causing the sales-to-new-listings ratio to fall to 50 percent in May. This also resulted in slight gains in inventory levels, pushing the months of supply up above three months. While there is more supply compared to several years ago, prices have still reported some modest gains compared with earlier in the year. The unadjusted benchmark price was $422,300 in May. Prices have improved since the beginning of the year, but remain over six per cent lower than last year’s levels. The largest year-over-year declines occurred in the North East and East districts, where prices fell by more than 10 percent. The West district reported the smallest decline at nearly four percent.

Apartment Condominium

Additional supply choice in the rental and new-home markets is heavily weighing on resale condominiums. Sales continued to slow into May, contributing to a year-to-date decline of nearly 28 percent. At the same time, while new listings are not as high as last year, the 403 sales compared to 961 new listings caused the sales-to-new-listings ratio to fall to 42 percent, keeping inventories elevated. With supply levels remaining elevated and demand easing, the months of supply has pushed above five months, creating conditions favourable to buyers. The excess supply is also weighing on prices, as the unadjusted benchmark price continues to decline. In May, the unadjusted benchmark price was $300,400, lower than January levels and nine per cent below last year’s price. Prices have eased across each district, with double-digit declines occurring in the North East, North, and East districts. The lowest price decline occurred in the North West district at six per cent.

REGIONAL MARKET FACTS

Airdrie

Sales activity continued to slow compared to last year, bringing levels more consistent with long-term trends. At the same time, new listings have started to ease compared to last year. Overall, with a sales-to-new-listings ratio of 53 percent and months of supply of just over three months, conditions in the resale market are relatively balanced. The total residential benchmark price was $515,000 in May, an improvement compared to January levels, but still five per cent lower than levels reported last year at this time. Added competition from the new-home market and more supply in surrounding areas and the city are weighing on prices in the Airdrie market.

Cochrane

Unlike other areas, sales in Cochrane continue to rise over last year’s levels and are higher than long-term trends. The 115 sales this month were met with 188 new listings. The improvement in new listings compared with sales did help bring the sales-to-new-listings ratio down from the previous month, but at 61 percent, it remains higher than many other areas. Inventory levels have also remained relatively stable throughout the spring, keeping the months of supply just below three months. With less inventory build in the Cochrane market, prices continued to trend up, reaching $576,400. While prices are still one per cent lower than last year’s levels, they have continued to improve from the $550,800 price reported at the start of the year.

Okotoks

May reported 72 sales and 121 new listings, pushing the sales-to-new-listings ratio up to 60 percent. This limited the growth in inventory levels, which remain below long-term trends for the town. While the months of supply has remained relatively low in Okotoks at a little over two months, additional supply just outside the town and in south Calgary has likely prevented some of the upward pressure on home prices. The lower level of sales activity in Okotoks also tends to create more volatility in monthly price movements. In May, the benchmark price was $618,900, down over both April and last year, but still an improvement over levels reported at the beginning of the year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy the Calgary Real Estate Board

Western Canada Recreational Property Market Outlook: What Buyers Should Know

Fri, 22 May 2026 21:28:11 GMT

The Western Canada recreational property market is entering a new phase defined by uneven performance, selective demand, and evolving buyer expectations. Rather than moving in one direction, the market is operating at multiple speeds, with softening conditions in some British Columbia regions, continued stability in luxury resort destinations, and strong growth in select Alberta markets.

This shifting landscape is creating different opportunities for buyers, sellers, and investors depending on location, price point, and intended use.

A Multi‑Speed Recreational Market Across Western Canada

Western Canada’s recreational real estate market is no longer driven by broad‑based momentum. Instead, performance varies sharply by region:

Some BC recreational markets are experiencing softer conditions, with elevated inventory and longer selling timelines
Luxury and resort destinations, such as Whistler, remain stable due to constrained supply and long‑term ownership
Select Alberta markets, particularly Canmore, are seeing strong growth supported by investor demand

This divergence underscores the importance of local market knowledge when navigating recreational property opportunities.

Sales Activity Remains Resilient, but Highly Selective

Overall sales activity across Western Canada remains resilient. While British Columbia has seen modest sales declines, these are being offset by significant gains in investor‑driven markets, most notably Canmore.

This pattern signals that demand remains present, but buyers are increasingly selective—focusing on quality, usability, and long‑term value rather than speculative purchases.

Buyer Leverage Is Increasing in Several Regions

Buyer leverage has improved in many recreational markets, particularly where lifestyle appeal is not the primary purchase driver. Higher inventory levels and longer days on market are giving buyers:

More choice
Greater negotiating power
Increased ability to conduct due diligence

In softer BC markets, elevated supply and slower absorption are reshaping the buyer‑seller dynamic, while constrained inventory continues to limit leverage in high‑demand destinations like Whistler and Canmore.

Demand Is Strong, but Buyer Behaviour Has Changed

Fundamental demand for recreational property remains strong across Western Canada. However, buyers are now:

More value‑conscious
Highly selective
Focused on quality, condition, and functionality

Turn‑key properties have become the baseline expectation across nearly all markets, with limited appetite for renovations or major upgrades.

Buyer Profiles Vary Sharply by Market

A clear divide has emerged in buyer profiles across Western Canada’s recreational regions:

Families and lifestyle‑driven buyers dominate more affordable markets
Investors and high‑net‑worth buyers are concentrated in premium destinations

Buyer motivations are similarly split. While lifestyle use remains a key driver, income generation plays a significant role in certain markets—most notably Canmore, where investment‑focused demand is strongest.

Recreational Properties Are Being Used in New Ways

Usage patterns continue to evolve across Western Canada:

In accessible regions such as South Okanagan and Sylvan Lake, recreational properties are increasingly being used as hybrid or primary residences
In higher‑priced or regulated markets like Whistler, BC and Canmore, AB, properties remain primarily recreational or investment assets

Remote work still supports demand in secondary markets, but it is no longer a primary growth driver.

Supply Conditions Differ Dramatically by Region

Supply dynamics vary widely across Western Canada:

Softer BC markets are experiencing elevated inventory and slower absorption
Whistler and Canmore continue to face tight or constrained supply
Sylvan Lake is seeing balanced inventory conditions supported by ongoing growth
These disparities are reinforcing the multi‑speed nature of the recreational market.

Generational Turnover Is Emerging as a Supply Driver

Generational turnover is becoming an increasingly important source of supply. Aging owners are listing or transferring recreational properties more frequently, particularly in:

South Okanagan, BC
Sylvan Lake, AB

In contrast, ownership turnover remains limited in high‑demand resort markets such as Whistler, where properties are more often held for long‑term appreciation or rental income.

What This Means for Buyers and Sellers

The Western Canada recreational property market is being reshaped by:

Demographic shifts
Changing buyer expectations
Uneven supply pipelines
Regional differences in demand and affordability

For buyers, this environment offers targeted opportunities—especially in regions with growing inventory and improved leverage. For sellers, success increasingly depends on accurate pricing, strong presentation, and understanding local market conditions.

Key Takeaways on Western Canada’s Recreational Property Market

Western Canada is a multi‑speed recreational market
Demand remains resilient but highly selective
Buyer leverage is improving in several regions
Turn‑key properties dominate buyer expectations
Usage patterns and demographics are driving long‑term change

[Click Here] to access the full REMAX 2026 Recreational Report

Canada’s housing market sees green shoots and stunted growth this spring

Fri, 15 May 2026 21:43:01 GMT

There’s a little bit of everything happening in Canada’s housing market as the busiest house hunting season kicks into high gear.

Signs have emerged suggesting slumping markets like Toronto and Hamilton could be finally turning a corner at the same time that previously robust Saskatchewan, Manitoba, parts of Quebec and Atlantic Canada appear to be topping out.

Opposing regional developments have been largely a wash from a national perspective.

The number of homes changing hands was little changed overall at 426,900 units (seasonally adjusted and annualized) in April, edging up 0.7% from March.

This represented the third consecutive month of essentially flat activity— albeit the first one with a slight positive sign in front of it.

More sellers enter the market

A common theme across most regions in April was a notable influx of sellers.

New listings rose in two-thirds of urban markets led by Quebec City (12.4% from March), Kitchener-Waterloo (10.5%), Ottawa (10.2%) and Winnipeg (8.2%).

This translated to a 4.1% nationwide increase from March that almost entirely reversed declines earlier this year.

Buyers have more options to choose from

Importantly, the seller influx adds to the inventory of homes for sale, especially in Quebec and Nova Scotia where buyers are gaining bargaining power.

Trends were little changed elsewhere, though. Steady but at decade highs in Ontario and British Columbia, gradually building from low levels in Alberta and New Brunswick, and persistently shrinking in Saskatchewan, Manitoba, and Newfoundland and Labrador.

Price trends continue to diverge

Home values reflected varied levels from coast to coast. They continue to generally depreciate in B.C. and Ontario, and appreciate in the rest of the country.

That said, April brought a few noteworthy developments. Toronto’s MLS Home Price Index was unchanged from the previous month for the first time in nearly a year. Meanwhile, Calgary and Edmonton’s indexes rose (0.3% and 0.9%, respectively), breaking from year-long strings of declines.

We saw the opposite in Saskatchewan, Montreal, New Brunswick and Nova Scotia, where local indexes dipped last month.

Overall, Canada’s aggregate MLS HPI fell month-over-month for the 15th straight time in April, edging 0.2% lower from March. It was the slowest decline since November, but still down 4.1% from a year ago.

Price dips in Montreal and Nova Scotia could spell the end of long running ascending trends if supply builds further and activity continues to cool.

We’re more hesitant to call the April price stabilization in Toronto a turning point, given the many hurdles this market still faces. Abundant inventory—especially for condos—is poised to maintain fierce seller competition, and downward price pressure near term.

Uncertain and uneven outlook

Canada’s housing market could take different directions from here depending on how the broad macroeconomic landscape unfolds.

Lower prices, improving affordability and better job prospects have the potential to unlock pent-up demand, bring more buyers to market, drain some of the inventory, and put the recovery back on track.

Then, there’s also a risk that persistent gloom arising from geopolitical events, spiking energy prices, and renewed deterioration in the job market prolongs the slump. With interest rates unlikely to fall further and immigration cuts cooling housing demand, a rebound in activity could also be delayed.

The next few months will hopefully bring clarity on the outlook. Meanwhile, we see market trends continuing to diverge across the country, keeping the national picture stagnant at best.

We expect abundant inventory sustaining downward price pressure in Ontario and B.C. near term, while tighter supply-demand support boost modest appreciation in most other regions.

Courtesy RBC

Balanced conditions in the city, except for apartment-style units

Sun, 03 May 2026 01:13:40 GMT

In line with seasonal expectations, both sales and inventory levels trended up relative to March’s activity. Despite this typical monthly rise, April sales totalled 2,104 units, six per cent lower than levels reported in 2025. “Sales were expected to ease this year as our market transitioned away from strong demand that was driven by previously rapid migration growth. Improved supply choice across the entire housing spectrum has reduced the urgency among potential purchasers, helping our market shift away from seller’s market conditions to more balanced conditions,” said Ann-Marie Lurie, CREB®’s Chief Economist. “However, the trend of limited supply choice in the detached market continues, while conditions favour the buyer in the apartment condominium market.”

With 3,829 new listings in April, the sales-to-new-listings ratio remained at 55 percent, supporting a modest monthly gain in supply. Inventory levels reached 5,973 units, nearly two per cent higher than levels reported last April. Overall, the months of supply remained just below three, representing relatively balanced conditions. However, this ranged from just over two months for detached homes to over four months for apartment-style homes.

The unadjusted total residential benchmark price trended up compared with March, reaching $568,800. The monthly gain was mostly associated with seasonal improvements, which is expected heading into the spring market. Monthly gains were higher in the detached and semi-detached segments. Overall, compared with the previous year, prices remain three per cent lower, with modest year-over-year declines in the detached and semi-detached sector, while declines neared nine per cent for apartment-style units.

So far in 2026, conditions have varied, ranging from seller’s market conditions and price growth for detached homes in some parts of the city to buyer’s market conditions and price adjustments in the apartment condominium sector.

Detached

With 1,095 sales and 1,863 new listings, inventory levels reported a modest monthly gain. However, with 2,468 units in inventory, levels remain lower than those reported last year and below long-term trends, while months of supply remained just over two. The tighter conditions helped support prices in April, which continued to rise compared with March, causing the pace of year-over-year price declines to ease to under three per cent. As of April, the unadjusted benchmark price was $745,400.

Within the detached market, conditions varied by district. Calgary’s North West, West and South districts experienced seller’s market conditions, with less than two months of supply, driving stronger monthly price gains. Meanwhile, conditions in the North East favoured the buyer, causing prices to trend down from the previous month. Benchmark price changes in April ranged from a year-over-year decline of eight per cent in the North East to a two per cent increase in the West district.

Semi-detached

Recent improvements in new listings helped to support the rise in sales this month. Year to date, there have been 700 sales and 1,190 new listings, similar to last year’s levels. In April, both the sales-to-new-listings ratio and months of supply remained at the lower end of the balanced range. Conditions supported further monthly price growth, as the unadjusted benchmark price reached $690,000. Gains over the past three months have brought prices to levels only slightly lower than those reported last April.

As in the detached sector, conditions vary by location. In April, prices trended up over March in all districts except the North East and East, which are also reporting higher months of supply. Tighter conditions in other areas supported monthly price gains. Year to date, benchmark prices improved over last year’s levels in the City Centre, North West and West districts.

Row

Sales, new listings and inventory levels all trended over the previous month, in line with seasonal expectations. However, year to date, the pullback in sales has outpaced the pullback in new listings, causing the sales-to-new-listings ratio to average 51 percent and inventories to trend higher than levels reported last year at this time. While inventories have improved, months of supply has remained in a relatively balanced range at nearly three months.

Conditions vary significantly across the city, contributing to differing price trends. The North East district reported the highest months of supply and the steepest year-to-date price adjustments, at over 11 percent. Meanwhile, the smallest year-to-date price adjustments occurred in the West, at less than a two percent decline.

Apartment condominium

The pace of growth in new listings slowed in April relative to the gains in sales, causing the sales-to-new-listings ratio to improve to 46 percent. However, this is not enough to prevent further inventory gains. In April, inventory rose to 1,920 units, nearly three percent higher than last year and 27 percent above long-term trends. With over four months of supply, conditions continue to favour the buyer, preventing any significant upward pressure on prices.

As of April, the unadjusted benchmark price was $301,400, slightly higher than March. Gains were mostly driven by improvements in the North West, South East and West districts, while prices continued to trend down in the North East, North and East districts. Compared with last April, benchmark prices have declined by nearly nine per cent, with the steepest declines in the North East, East, North and South East districts.

REGIONAL MARKET FACTS

Airdrie

Despite seasonal gains, sales in Airdrie eased compared with last year, causing year-to-date sales to decline by nearly 12 percent. While sales have slowed, they remain in line with long-term trends. New listings have also trended down compared with last year, but recent gains supported further increases in inventory. With 494 units in inventory and 151 sales, months of supply remained just above three months. While conditions are not as tight as they were the previous year, they remain relatively balanced and are supporting modest price gains following last year’s decline. The benchmark price reached $516,700 in April, nearly one per cent higher than March, but still more than five per cent lower than last April.

Cochrane

Gains in April sales were enough to push year-to-date sales up by over six per cent. At the same time, new listings eased compared with March, causing the sales-to-new-listings ratio to rise above 70 percent and preventing any significant change in inventory. This also caused months of supply to push below three. While conditions can fluctuate month-to-month, tighter conditions were accompanied by further price gains. In April, the unadjusted benchmark price reached $569,200, more than one per cent higher than the previous month. Recent gains have helped offset some of the pullbacks experienced during the second half of the year, but prices remain over three per cent lower than last April.

Okotoks

Improving sales in April were not enough to offset earlier declines, as year-to-date sales remained three per cent below last year’s. At the same time, new listings continued to improve, helping bring up inventory levels. However, with 149 units available in April, inventory remains well below long-term trends. With two and a half months of supply, conditions remain relatively tight, supporting further price gains. As of April, the unadjusted benchmark price was $627,600, over one per cent higher than March and in line with levels reported last April.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy CREB

Bank of Canada Holds Policy Rate at 2.25% for a Fourth Consecutive Time

Sun, 03 May 2026 00:59:46 GMT

Bank of Canada Holds Policy Rate Amid Middle East Conflict and Trade Uncertainty

The Bank of Canada has held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The ongoing conflict in the Middle East has driven energy prices sharply higher, while U.S. trade policy continues to create uncertainty for the global and Canadian economies.

CPI inflation rose to 2.4% in March and is expected to climb to around 3% in April, largely due to higher gasoline prices. The Bank projects GDP growth of 1.2% in 2026, with inflation expected to return to the 2% target early next year as oil prices ease.Governing Council has chosen to hold the policy rate steady and remains committed to maintaining Canadians’ confidence in price stability through this period of global upheaval.

Bank of Canada’s 2026 Policy Interest Rate Announcement Schedule

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2026 is as follows:

Wednesday, January 28
Wednesday, March 18
Wednesday, April 29
Wednesday, June 10
Wednesday, July 15
Wednesday, September 2
Wednesday, October 28
Wednesday, December 9

Read the full interest rate announcement below:

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The evolving conflict in the Middle East is causing heightened volatility and US trade policy continues to reshape global trade patterns. Both are ongoing sources of uncertainty. The Bank’s April outlook assumes tariffs remain unchanged and the global benchmark price of oil declines to US$75 per barrel by mid 2027.

The Iran war has led to sharply higher energy prices and transportation disruptions, diminishing growth prospects in oil-importing countries and boosting inflation worldwide. In the United States, growth is still expected to be solid over the projection horizon, boosted by AI-related investment and consumption growth. China’s economy is being supported by robust exports. In the euro area, higher prices for oil and natural gas will weigh on economic activity.

Financial conditions have been volatile, reflecting daily developments in the Middle East and shifting market expectations for inflation and interest rates. Bond yields are modestly higher since January while equity markets, which weakened sharply at the outset of the war, have recovered. Since the start of the war, the US dollar has appreciated against most major currencies. The Canada-US exchange rate has been relatively stable.

Overall, the global economy is expected to grow by about 3% in 2026, 2027 and 2028. Projections for inflation over the next year are revised up because of the jump in energy prices.

The outlook for economic growth in Canada is little changed from the January Monetary Policy Report (MPR) projection. After a contraction in the fourth quarter of 2025, growth is forecast to have resumed in early 2026. Consumer and government spending are supporting economic activity, while tariffs and trade uncertainty are weighing on exports and business investment. Housing activity declined in the fourth quarter and is being held back by slow population growth, economic uncertainty and ongoing affordability issues. The labour market is soft, with subdued employment growth over the past year and job losses in sectors targeted by US tariffs. The unemployment rate remains in the 6½%‑7% range, reflecting both weak hiring and fewer job seekers.

The Bank’s April forecast projects GDP growth of 1.2% in 2026, rising to 1.6% in 2027 and 1.7% in 2028 as growth in exports and business investment resumes along a lower trajectory. With GDP growing slightly above potential, the current excess supply in the economy is gradually absorbed. While the war in Iran may alter its composition, overall GDP growth is little changed in the updated forecast: Since Canada is a large net exporter of oil, higher oil prices increase national income even as consumers are squeezed by higher gasoline prices.

CPI inflation climbed to 2.4% in March because of sharply higher gasoline prices. The March increase follows several months of slowing inflation data. Core inflation has been easing and held steady at just above 2% in the most recent inflation report. The proportion of components of the CPI basket rising above 3% has also declined in recent months. As expected, so far there is little evidence that oil prices have fed through more broadly to goods and services prices, but this warrants close attention in the months ahead. Near-term inflation expectations have moved up with higher gasoline prices and still-elevated food price inflation, but longer-term inflation expectations have remained anchored.

CPI inflation will likely rise further in April to about 3%. Based on the assumption that oil prices will ease, inflation is forecast to come down to the 2% target early next year and remain around 2% over the projection horizon.

Against this backdrop and taking into account the current projection, Governing Council decided to maintain the policy rate at 2.25%. We are closely monitoring the impact of the conflict in the Middle East and how the economy is responding to US tariffs and trade policy uncertainty. Governing Council is looking through the war’s immediate impact on inflation but will not let higher energy prices become persistent inflation. As the outlook evolves, we stand ready to respond as needed. The Bank is committed to maintaining Canadians’ confidence in price stability through this period of global upheaval.

Courtesy REMAX LLC

Council approves Repeal of Blanket Rezoning (Land Use Bylaw 1P2007 Amendments Implementing Citywide Residential Rezoning)

Mon, 13 Apr 2026 22:02:00 GMT

City Council approved bylaw amendments that restore both the Land Use Bylaw Districts in Bylaw 1P2007 and the land use designation of affected parcels to their original state prior to blanket rezoning (citywide residential). These amendments will:

Bring back the low-density residential zones that existed in the land use bylaw prior to the citywide Rezoning for Housing that was approved by Council in May 2024 and came into effect on August 6, 2024.
Change the zoning of residential properties back to what existed before the citywide Rezoning for Housing in 2024, except for properties that:
- Received approval for a development permit, building permit or subdivision application under R-CG, R-G, or H-GO zoning before the bylaw takes effect; or
- Submitted a development permit, building permit or subdivision application before the first reading of the bylaw; or
- Rezoned through an approved rezoning application applied for by the property owner after August 6, 2024.
Make changes to the rules in the Residential – Grade Oriented (R-CG) district, the low density residential general rules and defined uses in Land Use Bylaw 1P2007.

The changes will take effect on August 4, 2026, allowing for intake and system changes. Applications received prior to this date will be processed in accordance with the current land use zones.

We are currently determining how additional amendments will be implemented. Information on the changes and updates will be posted shortly on calgary.ca/rezoning.

Courtesy City of Calgary Newsroom

Trends differ based on property type

Wed, 01 Apr 2026 19:54:05 GMT

Calgary, Alberta, April 1, 2026 – Supply conditions in March varied significantly depending on property type. Inventory levels saw a typical monthly rise, but compared with long-term trends, inventory remained well above the 10-year average for both row and apartment-style units and well below trend for detached homes. This is not a surprise given the pullback in detached housing starts last year despite record-high apartment-style starts.

There were 1,881 sales in March, up from the previous month, but still 13 per cent lower than levels reported last year and below long-term trends for March. The decline in sales is mostly due to pullbacks in apartment-style activity, where increased supply choice and slower migration is spreading demand across a wider range of supply. Meanwhile, detached sales have also slowed compared to long-term trends, likely due to limited supply choice in some city districts.

“When considering total residential housing statistics, conditions appear to be relatively balanced as sales, new listings, inventories and prices all trended up over the previous month as we start to move into the spring market,” said Ann-Marie Lurie, CREB®’s Chief Economist. “However, when we look deeper, we are seeing a market that ranges from tighter conditions for detached homes to the apartment sector, where conditions tend to favour the buyer. As expected, this is supporting upward momentum in detached prices and downward pressure in the apartment condominium sector.”

The total unadjusted benchmark price in the city was $565,600, up nearly one per cent compared to February but down by more than four per cent compared to last year. After the first quarter, benchmark prices posted modest to stable conditions for lower density homes. However, apartment condominium prices continued to slide, dropping another three per cent in the first quarter compared to the fourth quarter of last year.

Detached

The detached market is exhibiting the tightest conditions compared to all other property types. With 982 sales and 1,614 new listings in March, the sales-to-new-listings ratio rose to 61 per cent, while inventory levels remained similar to those reported last year. With just over two months of supply, conditions in March closely resembled those seen last year at this time. However, conditions varied across the city, with less than two months of supply reported in the North West, West, South, South East and East districts. Meanwhile, conditions were relatively balanced in both the City Centre and North districts, while the North East district continues to struggle with higher supply relative to demand. The detached benchmark price was $741,300 in March, down by three per cent over last year’s peak price of $766,600. However, tight conditions in most parts of the city are driving some price gains. After the first quarter, the largest quarterly gain was reported in the West district, followed by the City Centre and South districts.

Semi-Detached

Semi-detached sales rose over last year’s levels for the second consecutive month, supported by improvements in new listings and inventory levels. With 480 units in inventory and 193 sales, both levels are comparable to long-term trends and conditions remain relatively balanced. As of March, the unadjusted benchmark price was $686,100—slightly higher than last month and only one per cent lower than last year’s levels. Like other property types, there remains a range in price movements dependent on location. By the end of the first quarter, prices have trended up across most districts, but year-over-year prices remain below last year’s levels in all districts except the City Centre, North West and West districts.

Row

Row home sales continue to slow compared to last year in March, contributing to a first-quarter decline of 19 per cent. The 778 sales in the first quarter were met with 1,581 new listings, keeping the sales-to-new-listings ratio just below 50 per cent and supporting further inventory gains. In March, there were 960 units in inventory — 25 per cent higher than long-term trends — causing the months of supply to rise to nearly three months. While the row market is relatively balanced in most areas of the city, conditions are favouring the buyer in the North East districts. As of March, the unadjusted benchmark price in the city was $423,900, similar to last month and over six per cent lower than levels reported last year. After the first quarter, benchmark prices remain relatively comparable to levels reported in the previous quarter, as quarterly losses in the North East, North, South East and East districts offset the gains reported in the City Centre and West districts.

Apartment Condominium

Supply levels continue to rise for apartment-style units. With 1,774 units in inventory, levels are just shy of the record high for the month reported during the financial crisis in 2008. New supply growth, along with a sharp pullback in sales relative to new listings, has contributed to the rise in resale inventories. With the sales-to-new-listings ratio hovering around 40 per cent and nearly five months of supply, it is not surprising that prices struggle to improve. As of March, the unadjusted benchmark price was $300,300 — slightly higher than last month but over nine per cent lower than last year’s levels. After the first quarter of this year, apartment prices have eased by nearly three per cent compared with the fourth quarter of last year. While prices eased across all districts, the largest declines occurred in the South and North districts, both exceeding four per cent.

REGIONAL MARKET FACTS

Airdrie

With 135 sales and 251 new listings, the sales-to-new-listings ratio remained above 50 per cent, supporting modest improvements in inventory and keeping the market relatively balanced at three months of supply. As conditions stay more balanced, prices are showing more signs of stabilizing. In March, the unadjusted benchmark price was $512,800, similar to last month but more than five per cent lower than last year’s levels. Supply choice in the new-home market, along with more options in both Airdrie and north Calgary, has contributed to some of the recent price adjustments in the Airdrie market.

Cochrane

Following a surge in February sales, activity in March eased. After the first three months of the year, sales totalled 235 units, comparable to levels reported last year. At the same time, new listings have been rising at a faster pace, and the sales-to-new-listings ratio has struggled to push above 50 per cent. This has driven inventory gains and caused months of supply to trend up compared with the previous month. Nonetheless, conditions are mostly in-line with longer-term trends, reflecting relatively balanced conditions. This has helped support some of the typical seasonal gain in prices, but not enough to offset earlier pullbacks. Overall, the unadjusted benchmark price in March is $561,200, four per cent lower than levels reported last year.

Okotoks

Improving sales in March were not enough to offset earlier pullbacks, and the first-quarter sales eased slightly compared with last year. Meanwhile, new listings continued to increase, helping shift the market away from extremely tight conditions. However, inventory levels continue to remain relatively low, and the months of supply sit just over two months. As of March, the unadjusted benchmark price was $618,100, trending up compared to levels reported at the end of 2025 and supporting a modest quarterly gain. Despite the improvement, prices remain more than one per cent lower than levels reported at this time last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy of CREB

Many Canadian buyers finally have time to think — and that’s the real story

Fri, 27 Mar 2026 14:42:00 GMT

For many Canadians, housing now carries a second burden alongside cost, the constant flood of commentary telling them what to fear, what to chase, and when they are already too late.

Every week seems to bring a new sweeping conclusion about where the market is headed. One headline says the rebound is underway. Another suggests buyers are still frozen. A third warns that the next window is already closing. For people trying to make real decisions about where to live, whether to move, or how long to wait, all of that noise adds another layer of fatigue. It can also obscure what is actually changing in the market.

The data behind the shift

A more important shift is happening beneath the monthly price story. In many parts of the country, buyers are starting to regain leverage, and that changes how the market feels on the ground. It affects how people search, how sellers price, and how quickly decisions need to be made.

The latest data from the Canadian Real Estate Association points in that direction. National home sales edged down 1.3 per cent month over month in February, while new listings also fell, dropping 3.9 per cent. The sales-to-new-listings ratio tightened slightly to 47.6 per cent, and national inventory held steady at five months — right in line with the long-term average. CREA considers that range close to balanced market territory, which is worth paying attention to, because balance changes the tone of a market in ways that headlines don’t always capture.

From scarcity to something more local

For the better part of the past six years, the defining feature of housing in Canada has been scarcity. In most cities, there was too little product, too much urgency, and very little, if any, room for hesitation. Buyers were forced to move quickly, sometimes uncomfortably so, because waiting even a few days could mean losing the property altogether. In that environment, price was only part of the pressure. Speed and competition shaped behaviour just as much.

That is no longer the full story. What is taking shape now is more fragmented and more local. Some parts of the market still move quickly, while others are giving buyers more flexibility. Leverage depends much more heavily on city, housing type, inventory levels, and price point than any national headline can capture.

What Toronto and Calgary tell us

Toronto is a great example. According to TRREB’s February 2026 data, benchmark prices were down year over year across several housing categories, and active listings remained well above the levels buyers were dealing with during the peak frenzy years. Detached homes are still expensive by any reasonable standard, but they are selling below earlier highs, and condo pricing has softened more noticeably. In several segments, buyers now have more room to compare options, negotiate terms, and take the time they need to find the right fit.

Calgary tells a different but equally useful story. CREB’s February 2026 data shows detached benchmark pricing at $734,300, still firm, but three per cent below year-ago levels. The condo segment tells a starker story: inventory has surged and the benchmark price has fallen nearly nine per cent from last February to $298,600. Buyers there are operating under very different conditions than those shopping for a detached home, where supply below $700,000 remains tight.

Why leverage matters more than price

This is where the national story starts to fall apart. It is hard to talk about one Canadian housing market when local conditions look this different. It is even harder to make a smart decision based on a national headline when the reality in your own city, neighbourhood, or price bracket may be moving according to an entirely different set of pressures.

That is why leverage matters so much as a framework. It tells you more than a broad price trend can on its own. When buyers have leverage, they behave differently. They take a second look. They compare layouts, locations, and monthly carrying costs. They think more seriously about commute times, schools, proximity to family, and whether a home fits the life they actually want, not just the one they feel rushed into securing. Sellers, in turn, have to meet the market more honestly. Pricing becomes more disciplined. Expectations become more realistic.

While this isn’t the kind of shift that produces dramatic headlines, it shows up in behaviour, and over time, it reshapes the market.

The question no headline can answer

It also helps explain why the buy-now-or-wait question has become so difficult to answer in broad terms. The answer is tied to the life someone wants, the market they are entering, the kind of home they need, and whether conditions in that segment support a decision that feels sustainable.

And that lifestyle piece often matters more than the housing conversation allows. People are not making these choices in a vacuum. They are deciding whether to stay close to work or family, whether to keep renting for flexibility, whether to move to a different city, or whether ownership would finally give them a sense of permanence. In a more pressured market, those questions get buried under urgency. In a more balanced one, they can come back into view.

A different baseline is taking shape

There are broader forces shaping this environment as well. Immigration targets have moderated from earlier projections, interest rates have plateaued after a period of steep change, and listings have been rising in several major centres. Taken together, those conditions suggest a market moving toward a different baseline than the one Canadians became used to during the frenzy years. Not a collapse, and not a snapback, but something more selective, more segmented, and in many places more negotiable. This is arguably the more useful story.

The ability to think before you act

Housing has always been local. Right now, it is also increasingly conditional. Some homes still move quickly. Some neighbourhoods still attract heavy competition. But in many parts of the country, buyers finally have something they have been missing for years, the ability to think before they act.

For Canadians trying to decide what to do next, that is where the focus should be. Not on decoding the entire country, and not on reacting to every new national headline, but on understanding local inventory, days on market, recent price movement in the relevant segment, and what they can actually afford without stretching beyond reason.

The real shift is leverage, and leverage is never national in any useful sense. It shows up locally, unevenly, and often quietly, but once it does, it changes the market in ways that matter far more than the usual noise.

Courtesy - Karim Kennedy

Bill C-4 and Calgary Real Estate: What First-Time Buyers Need to Know

Mon, 16 Mar 2026 14:57:00 GMT

On March 12, 2026, the federal government passed Bill C-4, and for buyers, this is not just policy — it is a real opportunity.

The key change:

First-time buyers no longer pay GST on new homes priced up to $1 million.
For homes between $1 million and $1.5 million, the savings decrease proportionally.

Why This Matters in Calgary and Surrounding Areas

In a market like Calgary and surrounding areas, where many new homes fall within or near that range, this is a meaningful shift.

Unlike markets such as Toronto or Vancouver, Calgary still offers attainable new construction under $1 million.

That is what makes this policy especially impactful here.

Detached homes in new communities often fall between $650,000 and $900,000

Townhomes and duplexes are often in the $400,000 to $700,000 range

Many of these qualify for full GST elimination

That means:

A $700,000 new home = $35,000 in savings

A $900,000 new home = $45,000 in savings

This is not theoretical. This is money that buyers would have otherwise needed at closing.

What Qualifies

To take advantage of the rebate, buyers must meet the criteria set out by the Canada Revenue Agency:

First-time buyer (no home ownership in the past four years)
Canadian citizen or permanent resident
Purchasing as a primary residence
Buying a newly built or substantially renovated home

Important for Calgary and area buyers:

Resale homes do not have GST, so this rebate only applies to new construction.

Timing Matters

Eligible for agreements signed after March 20, 2025
Now fully in effect as of March 12, 2026
Runs until December 31, 2030

If you bought a new build in Calgary and area over the past year, you may already qualify retroactively.

How It Works in Practice

In most new build transactions going forward:

The builder applies the rebate directly at closing
The GST is removed from your statement of adjustments
You do not need to come up with that cash upfront
For earlier purchases, buyers will need to apply through the CRA.

The Strategic Shift for Buyers

This changes how first-time buyers should think about the market.

Previously, many buyers defaulted to resale because:

Lower upfront costs
No GST
Faster possession

Now, new construction becomes far more competitive:

Comparable monthly payments
Lower upfront cash required
Brand new product with a warranty

For some buyers, this will shift the decision from resale to new build entirely.

A Word of Caution

This is a strong incentive, but it should not drive the entire decision.

Builders may adjust pricing over time

Demand for new builds could increase

Not every project or builder offers the same value

The opportunity is real — but it still requires proper analysis.

What Buyers Should Do Now

If you are considering entering the market:

Look specifically at new construction options under $1 million
Confirm eligibility as a first-time buyer
Ask the builder how the rebate is applied
Review the full cost, not just the incentive

Key Takeaways

Full GST elimination on new homes up to $1 million
Up to $50,000 in savings
Highly relevant in Calgary and area due to pricing levels
Applies only to new construction
Retroactive eligibility is available

Final Thoughts

In many Canadian cities, this policy has limited reach.

In Calgary and area, it lands directly in the heart of the market.

For first-time buyers, this is one of the most meaningful advantages we have seen in years. The combination of relative affordability and now significant tax savings creates a window of opportunity that should not be ignored.

The key is understanding how to use it properly.

Detached market tightens while apartments remain oversupplied

Tue, 03 Mar 2026 20:37:09 GMT

Calgary continued to see market conditions vary by property type in February. The tightest conditions occurred in detached and semi-detached properties, reporting less than three months of supply. Row homes reported slightly higher supply levels relative to demand but remained relatively balanced. Meanwhile, apartment-style properties are dealing with excess supply, as conditions continue to favour the buyer.

“Slowing migration levels are coming at a time when supply for apartment-style homes is rising. Calgary reported record high starts last year, mostly due to gains in apartment starts where there are nearly 18,000 units currently under construction. While a large share of the units is targeted for rental, this also impacts condo ownership markets,” said Ann-Marie Lurie, CREB®’s Chief Economist. “Meanwhile, on the opposite end of the spectrum, the detached market remains relatively balanced in the higher price ranges and continues to struggle with limited supply for homes priced below $700,000.”

Tighter conditions for detached homes offset the higher supply levels in the apartment condominium sector, leaving citywide conditions relatively balanced at three months of supply and a sales-to-new-listings ratio of 55 per cent. Inventory levels reached 4,822 units in February, with condominiums and row homes representing more than half of all the inventory. At the same time, there were 1,526 sales in February, an 11 per cent decline over last February, mostly due to a sharp pullback in row and apartment sales.

Typical seasonal patterns tend to drive monthly gains in prices early in the year following the monthly slides reported at the end of the previous year. While February did report monthly benchmark price gains for most property types, prices continued to slide for apartment-style homes. However, monthly gains for lower-density homes offset the pullbacks for apartment units, leaving the total residential benchmark price of $560,500 one per cent higher than January, but still four per cent lower than last year's levels.

Detached

Both sales and new listings in February were similar to levels reported last year. With 736 sales and 1,269 new listings, the sales-to-new-listings ratio was 58 per cent. While this did not prevent further inventory gains, months of supply remained relatively balanced at just under three months. Conditions did vary across the city as the North East district struggled with excess supply, preventing any improvement in monthly prices. Meanwhile, the West district reported the tightest conditions with less than two months of supply.

In February, the unadjusted benchmark price for a detached home was $734,300, over one per cent higher than January, but still three per cent lower than last year's levels. The only districts to report both month-over-month and year-over-year gains were the City Centre and the West district.

Semi-Detached

Sales improved in February, reaching 175 units. At the same time, new listings rose to 253 units, causing the sales-to-new-listings ratio to rise to 69 per cent and preventing any improvement in inventory levels compared to January. This caused the months of supply to drop to 2.4 months, the lowest out of the four property types.

While this is a smaller segment of the market, the tighter conditions did result in slightly higher monthly price gains. As of February, the unadjusted benchmark price was $682,200, over two per cent higher than January and comparable to levels reported last year. Year-over-year price changes varied by district, with gains in the City Centre, North West and West offsetting declines in the North East, North, South, South East and East. In addition to typical seasonal factors, tighter conditions at the start of the year are helping support monthly price gains in most districts.

Row

Sales picked up in February compared to January, reaching 270 units. Meanwhile, after January’s surge in new listings, levels slowed to 491 units, helping bring the sales-to-new-listings ratio into more balanced territory at 55 per cent. While inventories did rise, the monthly gains in sales helped reduce the months of supply from over four months in January to just over three months in February.

The unadjusted benchmark price rose to $423,600 in February, in line with typical seasonal expectations. While prices are still five per cent lower than last February, there is significant variation between districts. The steepest year-over-year declines have occurred in the North East and East districts at over 10 per cent. Meanwhile, prices in both the West and City Centre are only slightly lower than levels reported last February.

Apartment Condominium

Despite a pullback in new listings in February, with 753 new listings and 345 sales, the sales-to-new-listings ratio remained low at 46 per cent, contributing to further inventory gains. February reported 1,580 units in inventory, high enough to keep the months of supply well over four months. The persistently higher supply levels continued to weigh on prices in February, as the monthly benchmark price dropped to $298,600, nearly one per cent below January and over nine per cent lower than prices reported last February.

Conditions do vary across the city. After the first two months of the year, the months of supply have ranged from over 11 months in the North East to below four months in the South district. The higher supply levels are weighing on prices across all districts. The largest year-over-year price adjustments have occurred in the North East, East and South East districts, which have seen declines surpassing 10 per cent.

REGIONAL MARKET FACTS

Airdrie

Sales and new listings totalled 122 and 236 units, respectively, in February, causing the sales-to-new-listings ratio to rise to 52 per cent. At the same time, inventories increased slightly over the previous month and last year, pushing above long-term trends. However, with just over three months' supply, conditions are considered relatively balanced. The unadjusted benchmark price was $512,200 in February, similar to the previous month, but still five per cent lower than last year's levels. Increased competition from the new home sector, along with increased supply choice in both Calgary and other surrounding areas, has contributed to some of the price adjustments that have occurred in Airdrie.

Cochrane

The gains in sales in February helped offset the new listings in the market. With 91 sales and 154 new listings, the sales-to-new-listings ratio rose to 59 per cent, preventing any significant shift in inventory levels. This caused the market to shift toward more balanced conditions with three months of supply. As of February, the total residential benchmark price was $553,500, slightly higher than January, but due to pullbacks mostly in the third quarter of 2025, prices remain three per cent lower than last February.

Okotoks

Sales in February slowed compared to new listings that came onto the market, causing the sales-to-new-listings ratio to fall below 60 per cent. This helped support some inventory gains in Okotoks for the month. However, inventory levels remained well below long-term trends and with under three months of supply, conditions remain relatively tight. The tighter conditions have once again contributed to some monthly gains in prices beyond what’s typically seen early in the year. As of February, the unadjusted benchmark price was $612,300, a two per cent gain over January and similar to levels reported last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy CREB

Understanding a Buyer’s vs a Seller’s Market

Sat, 28 Feb 2026 03:42:00 GMT

Is it a buyer’s or seller’s market right now?

Understanding the current market conditions and difference between a buyer’s and seller’s market is crucial when you’re looking to buy or sell a home. Whether you’re searching for a home or listing a property, knowing the dynamics at play helps you strategize effectively. So, what do the two terms mean? A buyer’s market happens when there’s a surplus of housing in the market compared to buyers. A seller’s marker occurs when there’s a shortage of housing compared to potential buyers. Do you know what these market conditions mean for you? We’ll dive into the signals to watch for, why these market conditions happen, and how both buyers and sellers can position themselves for success. Let’s take a closer look.

Buyer’s Market Vs. Seller’s Market: A Quick Comparison

Buyer’s Market | Seller’s Market

More homes for sale than buyers | More buyers than available homes
Prices are typically stable or declining | Prices may rise quickly
Listings often stay longer on the market | Homes could sell within days
High buyer negotiation power | High seller negotiation power
Fewer competing offers | Bidding wars are more common

What’s a Buyer’s Market? (Key definition)

A buyer’s market occurs when there are more homes for sale than there are buyers actively looking, creating an oversupply of inventory. This imbalance may give buyers greater leverage and negotiating power because sellers must compete for a smaller pool of potential purchasers.

Signs of a buyer’s market often include:

High inventory of available homes
Listings staying on the market longer than usual
Price reductions or stable-to-declining home prices as sellers try to attract interest
Sellers more willing to negotiate, offer incentives, or accept conditional offers

In short, for buyers this type of market means more options, more time, and more room to negotiate.

Why do Buyer’s Markets Happen?

So, why exactly do buyer’s markets occur? There are several factors that contribute to a shift toward buyer‑friendly market conditions:

Higher Interest Rates

When interest rates rise, mortgages become more expensive which can reduce buyer demand and increase supply.

Broader Economic Conditions

Factors like job growth, inflation, and overall consumer confidence can influence market activity. Slower economic periods may tip conditions in favour of buyers.

Seasonal Trends

Spring and summer often bring more competition, while fall and winter can sometimes see slower buyer activity, widening inventory and sometimes creating a micro buyer’s market.

Tips for Buyers in a Buyer’s Market

If you’re planning to buy a home, a buyer’s market might mean you have the advantage. Use these practical tips to make the most of the conditions:

Take Your Time

With more homes available, time is on your side. Compare neighbourhoods, features, and prices at your own pace. Homes often stay on the market longer in a buyer’s market, giving you the time to make thoughtful decisions.

Use Your Negotiation Leverage

Buyers typically have more room to negotiate in this environment. Consider asking for:

Lower purchase price
Seller‑funded repairs or upgrades
Flexible closing dates that suit your timeline

Make Strong, Conditional Offers

When there’s less competition and fewer bidding wars, buyers can confidently include conditions such as financing or home inspections without the worry of losing the home to another offer right away.

Look for Long‑Term Value Opportunities

If prices are stable or trending downward, you may be able to purchase at a more favourable price point. This can mean greater potential equity growth as the market shifts back toward balance or a seller’s market.

Tips for Sellers in a Buyer’s market

Selling in a buyer’s market can feel challenging, but the right strategy can help your home stand out and attract qualified buyers. Here are practical tips to position yourself for success:

Price Your Home Competitively

In a buyer’s market, realistic pricing is essential. Buyers have numerous options, and overpricing can push your home to the bottom of their list. Set a strong, data‑driven price from the start to avoid extended days on market or future price reductions.

Invest in Strong Marketing

With more listings competing for buyers’ attention, effective marketing becomes critical. Make sure your home is showcased at its absolute best by investing in:

High‑quality, professional photos
Home staging to highlight your property’s strengths
Well‑written listing descriptions
Clearly highlighted upgrades and standout features
A clean, well‑maintained, and move‑in ready home
First impressions matter even more when buyers have plenty of choices.

Be Prepared to Negotiate

Buyers hold more leverage in this type of market, so flexibility is key. Be ready for negotiations involving:

Price adjustments
Repair requests
Closing credits or incentives
Conditional offers

A willingness to accommodate reasonable requests can help your home stand out among competing listings.

Practice Patience Throughout the Process

Homes tend to stay on the market longer during a buyer’s market due to increased inventory and more cautious buyers. Expect a slower pace, and don’t be discouraged. The right buyer will come as long as your pricing, presentation, and marketing are on point.

How Buyers Can Take Advantage of a Buyer’s Market

If you’re a buyer in this type of market, here’s how to leverage this opportunity:

Get Pre‑Approved Early

A mortgage pre-approval gives you the clarity you need to set a proper budget for how much house you can afford to purchase. Being financially prepared strengthens your offer, even when you have negotiating leverage.

Lean on a Real Estate Professional

Market conditions change periodically, but working with a professional who is knowledgeable on these conditions can help you have the upper hand.

Be Strategic, but decisive

While you have time, analysis paralysis can still cause you to miss out on great homes. Be sure to have a plan of action to help you when you’re ready to buy a home.

What’s a Seller’s Market? (Key definition)

A seller’s market happens when there are more buyers looking for homes than there are homes available for sale. This imbalance often gives sellers the upper hand, potentially with quicker sales, stronger offers, and more competition among buyers.

Signs of a seller’s market often include:

Low housing inventory
Homes selling quickly, sometimes within days
Multiple offer situations or bidding wars
Homes frequently selling at or above asking price
Buyers willing to waive conditions to stay competitive

Why do Seller’s Markets Happen?

A seller’s market can emerge due to several key factors:

Low Housing Inventory

When fewer homes are listed for sale, competition increases among buyers.

High Buyer Demand

Strong job markets, population growth, or favourable economic conditions can increase the number of people looking to buy.

Low Interest Rates

Lower borrowing costs often bring more buyers into the market, increasing demand.

Seasonal and Local Trends

Some regions experience cyclical seller’s markets in peak buying seasons, like spring and early summer, when more buyers are actively searching for homes. Local economic shifts, new developments, school zones, and community growth can also influence demand in specific neighbourhoods, creating competitive conditions even if the broader market is more balanced.

Tips for Buyer’s in a Seller’s Market

Competing in a seller’s market requires strategy, confidence, and preparation. With limited inventory and strong competition, buyers need to be proactive and well-positioned. Here’s how buyers can increase their chances of success:

Get Pre‑Approved Early

Being pre‑approved for a mortgage shows sellers you’re serious and financially ready to move forward. In a competitive market, sellers are more likely to prioritize offers from buyers who have already secured mortgage pre-approval because it reduces uncertainty that they’ll qualify for a mortgage. It also allows buyers to act quickly and confidently when the right home becomes available.

Be Ready to Move Quickly

Homes can sell fast in a seller’s market. If you love a property, be prepared to make an offer promptly. Stay organized, monitor new listings closely, and be prepared to book showings as soon as possible. Having your paperwork ready and knowing your budget in advance allows you to submit a strong offer without unnecessary delays.

Make Strong, Clean Offers

In a competitive environment, sellers are looking for offers that are both attractive and straightforward. Try to limit unnecessary conditions when possible and make your offer appealing. You may also consider offering a flexible closing date to align with the seller’s needs, or submitting a competitive price based on current market value. The goal is to present an offer that stands out while still protecting your interests.

Work with a Knowledgeable Agent

An experienced real estate professional can be your greatest advantage in a seller’s market.

Stay Flexible

In a highly competitive market, flexibility can make all the difference. You may need to compromise on certain expectations around features, finishes, or even neighbourhoods. Prioritize your “must‑haves” versus “nice‑to‑haves” so you can make a confident decision when opportunities arise. Keeping an open mind can help you secure a home that meets your core needs, even if it looks slightly different from what you initially imagined

Frequently Asked Questions (FAQs) About Buyer’s and Seller’s Markets

How can I tell if my area is in a buyer’s market?

In a buyer’s market, there are typically more homes available than there are active buyers. This often means listings stay on the market longer, price reductions are more common, and sellers may be more open to negotiation. You might also notice fewer bidding wars and more room to include conditions in your offer, such as financing or home inspection clauses..

How can I tell if my area is in a seller’s market?

Look for signs such as low inventory, homes selling quickly, multiple offer situations, and rising prices. In a seller’s market, demand outweighs supply, which can lead to competitive bidding and properties selling above asking price. Homes may receive offers shortly after being listed, and there may be fewer price reductions.

Can I still buy a home in a seller’s market without going over budget?

Yes, but it often requires preparation and flexibility. Having strong financing in place, including a mortgage pre-approval, helps you to move quickly and confidently. It’s also important to understand fair market value, to avoid overpaying. Working with an experienced agent can help you identify well-priced homes, overlooked listings, or opportunities in neighbourhoods where competition may be slightly lower. Staying disciplined with your budget and knowing your limits is key.

Is it a good idea to sell during a seller’s market?

Often, yes. In a seller’s market, limited inventory and strong demand can result in competitive offers, shorter time on market, and potentially stronger sale prices. Sellers may also have more leverage when negotiating terms, such as closing dates. However, it’s still important to price your home appropriately and prepare it before you list it to attract serious buyers and maximize your results.

Do market conditions change quickly?

They can. Real estate markets are influenced by many different factors, including interest rates, economic conditions, government policy changes, seasonal trends and more. A balanced market can shift toward buyers or sellers depending on supply and demand. That’s why staying informed about local market data and trends is essential. What’s happening nationally may differ from what’s happening in your specific city or neighbourhood, so localized insight is especially valuable.

Navigating the challenges of the market can be overwhelming. Should you have any questions, contact your member of the Viani Real Estate Group to assist you through the process.

Courtesy REMAX LLC

5 Reasons to Choose the Calgary Real Estate Market

Fri, 27 Feb 2026 03:53:00 GMT

The Calgary real estate market is one of the most thriving aspects of the Canadian housing sector.

Over the last year, the Calgary real estate industry has witnessed impressive gains, from growth in the condominium market to sufficient inventory levels to a high sales-to-new-listing ratio (SNLR). Indeed, the western Canada city has become one of the most lucrative markets for real estate participants.

How good does it look? Many industry observers believe it could replicate last year’s average residential price growth of around three percent in 2024.

Is the major Alberta urban centre right for you?

Here are Five Reasons to Choose the Calgary Real Estate Market:

Calgary Has a Thriving Economy

One of the first reasons to choose the Calgary real estate market is the fact that it is experiencing significant growth. The market is booming because of Calgary’s thriving economy, a healthy job market, and low unemployment rates. The city also maintains a strategic location and offers easy access to work, leisure, and travel opportunities. This makes it an ideal residential choice for homebuyers.

The city also ranks high in terms of livability and offers its residents a good quality of life, a vibrant culture, natural beauty, and recreational opportunities. It boasts of the Rocky Mountains and gives people easy access to Banff and Jasper, both popular tourist destinations. The city offers more than 20,000 acres of parkland and numerous trails and pathways for those interested in nature and outdoor activities. The weather is also great, with Calgary being one of the sunniest cities in Canada despite the frigid winters.

Calgary Residents Enjoy High Purchasing Power

Consumers in Calgary enjoy a high purchasing power because the median household income has consistently seen an upward trajectory over the years. The enhanced purchasing power makes the real estate market particularly attractive as there are more potential buyers.

Moreover, Alberta has no provincial sales tax. As a result, residents in Calgary do not have to pay the 12- 15 percent harmonized taxes typically charged in other provinces and only have to bear the 5% GST rate levied by the federal government.

Finally, the job market in Calgary is booming, and there are diverse options for people in Calgary, including the oil and gas sector, technology, healthcare, finance, and education. Employment opportunities in these sectors provide economic stability and high average incomes for residents in Calgary.

Calgary’s Housing Affordability is Outstanding

Housing affordability in Calgary has remained relatively consistent. With mortgages as high as they have been in the last few years, this makes properties in this part of the country still affordable. This is good news for first-time home buyers and those who want to upgrade their existing properties. Average sale prices in Canada are much lower than those in Toronto and Vancouver. In 2024, the average sales price for a home in Calgary was below $548,000, according to RE/MAX data. By comparison, the typical sales price for residential properties in Vancouver or Toronto is north of $1 million.

This makes this market relatively much easier to enter, especially for those who can afford the usual ten to 15 percent down payment.

Plus, there is no land transfer tax in Alberta, which makes selling a home less expensive for people in Calgary than in other areas in Canada.

Calgary Attracts Foreign Investment

Calgary attracts significant foreign investment, and there is a consistent injection of foreign capital into the real estate sector, making it an attractive prospect for investment. The city’s strong infrastructure has played an essential role in attracting investors and boosting the Calgary real estate market. The major urban centre has significantly invested in public transport and road upgrades, making it more appealing for residential and commercial real estate buyers.

Ultimately, Calgary’s real estate market is diverse and can cater to all housing budgets by offering affordable choices for homebuyers and renters.

Calgary’s Population Growth

Calgary has seen continuous population growth, and there has also been a regular influx of people from other provinces. The increase in population is directly proportional to a rise in housing demand.

The city has more than one million people, and the population continues to grow because of its thriving economy.

Millennials are an attractive population segment and constitute many new homebuyers. At the same time, an aging population is driving an increase in sales for condos and smaller homes as they seek to downsize. The changing demographics and population growth have resulted in a consistent demand for single-family luxury properties and condos. In addition, with the consistent increase in remote work, Calgary offers remote workers a quality lifestyle and a lower cost of living compared to other major Canadian cities.

Calgary | A Top Canadian Housing Market

Overall, it is evident that a booming economy, population growth, low taxes, stable home prices, and a high-quality lifestyle make Calgary one of the most attractive areas for planting new roots, real estate investing, and enjoying stellar living standards.

Courtesy REMAX LLC

Slow start for high-density homes

Mon, 02 Feb 2026 21:14:28 GMT

Calgary, Alberta, Feb. 2, 2026 – Calgary reported 1,234 sales in January, a year-over-year decline of 15 per cent, but in line with typical levels of activity for the month. While sales declined across all property types, the steepest declines occurred in higher-density homes.

“Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB®’s Chief Economist. “At the same time, sellers were quick to bring their listings onto the market, causing the sales-to-new-listings ratio to drop to 44 per cent, mostly due to shifts in apartment and row-style homes. Overall, this is not entirely uncommon for January, as both buyers and sellers weigh their options ahead of the spring market.”

The rise in new listings compared to sales caused inventory levels to increase to 4,391 units, the highest January level since 2020. However, as with sales, conditions vary by property type, with row and apartment homes facing higher levels of inventory compared to long-term trends. The result is months of supply that ranges from under three months in the detached sector to five months for apartment-style homes.

Due to declines in the later part of 2025, benchmark prices are lower than levels reported at the start of last year. However, seasonally adjusted figures point to stable levels in January compared to the end of 2025. Nonetheless, year-over-year total residential benchmark prices have declined by nearly five per cent, as steep declines reported in the oversupplied row- and apartment-style homes weighed on total residential prices compared to last year.

Detached

There were 657 sales and 1,243 new listings in January, comparable to levels reported last year. However, new listings did rise over December levels, causing inventories to reach 1,753 units, just shy of long-term averages for the month. With less than three months of supply and a sales-to-new-listings ratio of 53 per cent, conditions remained relatively balanced in the detached market.

The January unadjusted benchmark price was $724,000, slightly lower than the previous month and over three per cent lower than last January, as prices trended down over the second half of 2025. Price movements varied throughout the city, with year-over-year declines ranging from less than one per cent in the West district to over six per cent lower in the North East. While unadjusted prices did ease over December, this was mostly due to pullbacks in the City Centre and North West districts.

Semi-Detached

There were 118 sales in January and 251 new listings, representing 10 per cent of the market activity in the city. While both sales and new listings improved over December, the growth in new listings was higher, causing the sales-to-new-listings ratio to ease to 47 per cent. Inventory levels improved but conditions remained relatively balanced, with three and a half months of supply.

Rising supply, which started in the latter part of 2025 and continues into 2026, is creating more price stability. As of January, the benchmark price was $667,000, similar to last month and only one per cent lower than last January. Year-over-year prices in both the North West and West districts remain higher than last year but are lower in every other district.

Row

There were 186 sales in January, down by nearly 25 per cent compared to last year. Meanwhile, supply continued to rise both in terms of new listings and inventory growth, causing the months of supply to push above four months.

Despite the added supply, the unadjusted benchmark price remained similar to December's levels, but was five per cent lower than last January. The month-over-month stability was due to gains in the City Centre and West districts. Year-over-year price adjustments have been the highest in the North East and East districts, followed by the North and South East districts, which have faced significant competition from the new-home market.

Apartment Condominium

Apartment-style units continue to struggle with supply. New listings reached 787 units, which is not as high as last year but a significant jump over December and much higher than the 273 sales reported in January, pushing the sales-to-new-listings ratio down to 35 per cent. This drove further gains in inventory, which reached 1,435 units, the highest levels ever reported for January.

With over five months of supply in January, it is not surprising that prices trended down further. The unadjusted benchmark price was $301,200, nearly one per cent lower than the previous month and eight per cent lower than last January. Prices have been falling across every district, with year-over-year declines ranging from 13 per cent in the North East to six per cent in the City Centre.

REGIONAL MARKET FACTS

Airdrie

While down from last January, sales activity remained relatively strong. With 106 sales and 227 new listings, the sales-to-new-listings ratio dropped to 47 per cent, slightly lower than typical for January. This resulted in some further gains in inventory levels, keeping the months of supply just above three months and in line with long-term trends. The unadjusted benchmark price was $513,900, reporting a modest monthly gain consistent with seasonal trends. However, thanks to pullbacks last year, prices remain five per cent lower than levels reported in January 2025.

Cochrane

New listings rose to 149 units, the highest level ever reported in January. With only 54 sales, the sales-to-new-listings ratio dropped to 36 per cent, causing inventories to rise and keeping months of supply at five months. After several months of slightly higher months of supply, prices have trended down on a month-over-month basis for three consecutive months. As of January, the unadjusted benchmark price was $550,800, nearly two per cent lower than both December and the start of last year.

Okotoks

Okotoks continues to struggle with lower inventory levels compared to long-term trends, limiting sales activity. January reported 33 sales and 52 new listings, resulting in a sales-to-new-listings ratio of 63 per cent and keeping inventory levels low at 79 units. The months of supply remained just above two months, and prices remained relatively unchanged compared with the previous month. However, thanks to some price adjustments last year, the total residential benchmark price of $599,500 in January was two per cent lower than levels reported last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy of CREB

Interest Rate Announcement: The Bank of Canada Keeps Policy Rate Steady at 2.25%

Thu, 29 Jan 2026 10:00:00 GMT

Bank of Canada Holds Policy Rate as Economic Outlook Remains Stable

The Bank of Canada has held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. The outlook for the global and Canadian economies is largely unchanged from the October Monetary Policy Report, thought it remains unpredictable due to US trade policies. In Canada, economic growth stalled in Q4 as exports continue to face pressure from US tariffs, while domestic demand and employment have shown signs of improvements. The Bank projects a modest growth of 1.1% in 2026 and 1.5% in 2027, with inflation expected to remain close to the 2% target.

Bank of Canada’s 2026 Policy Interest Rate Announcement Schedule

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2026 is as follows:

Wednesday, January 28

Wednesday, March 18

Wednesday, April 29

Wednesday, June 10

Wednesday, July 15

Wednesday, September 2

Wednesday, October 28

Wednesday, December 9

Read the full interest rate announcement below:

The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

The outlook for the global and Canadian economies is little changed relative to the projection in the October Monetary Policy Report (MPR). However, the outlook is vulnerable to unpredictable US trade policies and geopolitical risks.

Economic growth in the United States continues to outpace expectations and is projected to remain solid, driven by AI-related investment and consumer spending. Tariffs are pushing up US inflation, although their effect is expected to fade gradually later this year. In the euro area, growth has been supported by activity in service sectors and will get additional support from fiscal policy. China’s GDP growth is expected to slow gradually, as weakening domestic demand offsets strength in exports. Overall, the Bank expects global growth to average about 3% over the projection horizon.

Global financial conditions have remained accommodative overall. Recent weakness in the US dollar has pushed the Canadian dollar above 72 cents, roughly where it had been since the October MPR. Oil prices have been fluctuating in response to geopolitical events and, going forward, are assumed to be slightly below the levels in the October report.

US trade restrictions and uncertainty continue to disrupt growth in Canada. After a strong third quarter, GDP growth in the fourth quarter likely stalled. Exports continue to be buffeted by US tariffs, while domestic demand appears to be picking up. Employment has risen in recent months. Still, the unemployment rate remains elevated at 6.8% and relatively few businesses say they plan to hire more workers.

Economic growth is projected to be modest in the near term as population growth slows and Canada adjusts to US protectionism. In the projection, consumer spending holds up and business investment strengthens gradually, with fiscal policy providing some support. The Bank projects growth of 1.1% in 2026 and 1.5% in 2027, broadly in line with the October projection. A key source of uncertainty is the upcoming review of the Canada-US-Mexico Agreement.

CPI inflation picked up in December to 2.4%, boosted by base-year effects linked to last winter’s GST/HST holiday. Excluding the effect of changes in taxes, inflation has been slowing since September. The Bank’s preferred measures of core inflation have eased from 3% in October to around 2½% in December. Inflation was 2.1% in 2025 and the Bank expects inflation to stay close to the 2% target over the projection period, with trade-related cost pressures offset by excess supply.

Monetary policy is focused on keeping inflation close to the 2% target while helping the economy through this period of structural adjustment. Governing Council judges the current policy rate remains appropriate, conditional on the economy evolving broadly in line with the outlook we published today. However, uncertainty is heightened and we are monitoring risks closely. If the outlook changes, we are prepared to respond. The Bank is committed to ensuring that Canadians continue to have confidence in price stability through this period of global upheaval.

Courtesy the Bank of Canada

The 6 Best Places to Buy Real Estate in Alberta in 2026

Wed, 28 Jan 2026 21:53:00 GMT

Homebuyers exploring Alberta real estate want to afford both their mortgage and everyday costs without feeling stretched. Many are coming from higher-priced provinces so they can finally have more space. Buyers also look for stability and flexibility. They want shorter commutes, safe streets, and easy access to shops, schools, and services. As more people relocate for a better balance of price and lifestyle, Alberta real estate is drawing extra attention for its value and job opportunities. The province combines big-city careers, thriving smaller centres, and easy access to nature in one place.

Why Alberta?

More Home for Your Money

Your housing dollar usually stretches further here. Many buyers can step into a detached home, a bigger lot, or a newer build in Alberta, instead of settling for a smaller condo in more expensive provinces.

Diverse, Growing Job Market

Energy is still important, but it is no longer the only story. Growth in tech, logistics, agri-food, film, and services gives buyers more ways to build a career without having to leave the province.

In-Migration and Population Growth

People are moving in from other parts of Canada and abroad. This steady inflow supports local businesses, keeps schools and services strong, and helps protect long-term demand for housing.

Lower Taxes and Closing Costs

With no provincial sales tax and only modest land title and mortgage registration fees instead of a percentage-based land transfer tax, more of your money goes into your home rather than one-time transaction costs.

Manageable Cost of Living

Housing, taxes, and everyday expenses often line up better with household incomes than in many larger markets. For a lot of buyers, that balance makes it easier to plan, save, and stay in their home over time.

Lifestyle and Quality of Life

You can choose a downtown condo, a suburban family home, or a place in a smaller centre and still reach trails, parks, lakes, and mountain getaways without leaving the province. Many buyers like that they can work in a growing market and still enjoy quick access to the outdoors.

Where to Buy in Alberta in 2026

Calgary – Best for Big-City Jobs and Long-Term Growth

Calgary is still Alberta’s main draw if you want big-city careers and a busy urban lifestyle. The city has a diverse job market, strong in energy, tech, and professional services, along with transit, universities, hospitals, festivals, and pro sports. Calgary real estate appeals to buyers who want long-term growth potential and to investors who care about solid rental demand.

Airdrie – Best for Commuters and Young Families Near Calgary

If you are looking at Airdrie, Alberta real estate, you get a fast-growing city with a small-town feel just north of Calgary. Many buyers like the mix of newer neighbourhoods, parks, schools, and an easier commute into Calgary for work. Airdrie suits young families and commuters who want more house and yard space while staying close to big-city jobs and services. Many buyers see Airdrie, Alberta, real estate as a way to balance space, price, and easy access to Calgary.

Cochrane – Best for Small-Town Living Close to the Rockies

Cochrane, Alberta, real estate is popular with buyers who want a relaxed, small-town vibe without giving up access to Calgary or the mountains. The town sits along the Bow River, with historic streets, new communities, and quick access to outdoor activities in every direction. It is a good choice if you want coffee shops and local shops during the week and easy day trips into the Rockies on weekends. Because of this, Cochrane, Alberta, real estate attracts a mix of families, professionals, and downsizers.

Camrose – Best for Small-City Stability in Central Alberta

Camrose, Alberta, real estate offers a quieter small-city setting with steady demand from local jobs, education, and regional services. The city acts as a hub for nearby rural areas, so there is a solid need for housing without the rush of a major centre. Camrose works well for buyers who want a stable market, shorter commutes, and a strong sense of community. For many buyers, Camrose, Alberta, real estate provides a stable path into ownership in a smaller centre.

Canmore – Best for Luxury Mountain Lifestyle and Recreation

Canmore is Alberta’s prime choice for buyers who want a mountain lifestyle and are willing to pay a premium for it. The town offers trails, ski hills, and quick access to Banff National Park, with a limited supply of homes that keeps demand high. It fits professionals, remote workers, and second-home buyers who place lifestyle and scenery ahead of strict affordability.

Medicine Hat – Best for Affordability and Retirement-Friendly Living

Medicine Hat, often called Canada’s sunniest city, stands out for its lower overall cost of living and relaxed pace. Buyers find a range of housing options, access to healthcare, parks, trails, and nearby destinations like the Canadian Badlands and Cypress Hills. It is a strong fit for retirees, downsizers, and anyone who wants an affordable smaller city with plenty of sun.

Courtesy REMAX LLC

CREB® Unveils 2026 Forecast Calgary and Region Yearly Outlook Report

Mon, 26 Jan 2026 20:57:17 GMT

The Calgary Real Estate Board (CREB®) is excited to announce the release of its 2026 Forecast Calgary and Region Yearly Outlook Report. This comprehensive report, prepared by CREB® Chief Economist Ann-Marie Lurie, provides an in-depth analysis of Calgary's economic and housing market trends for the upcoming year.

The 2026 report highlights how rising starts over the past several years are translating into supply growth at a time when demand is shifting due to slowing migration and shifting economic conditions.

“In 2025, the market transitioned from one that favoured the seller to more balanced conditions, as improving supply in the new home, rental and resale markets occurred just as demand returned to more typical levels. This took much of the pressure off home prices last year, especially in the apartment and row segments,” said Ann-Marie Lurie, Chief Economist at CREB®.

Lower migration levels, stable employment and interest rates are expected to prevent any substantial change in demand in 2026. However, supply pressures are expected to continue as 26,000 units that are currently under construction are completed over the next few years.

“Much of the supply growth will be apartment-style rental and ownership units, and while starts are expected to ease this year, it will take time to absorb the supply, considering the weaker migration levels. Ultimately, this will continue to place downward pressure on prices for apartment- and row-style homes. Meanwhile, conditions are more balanced for detached and semi-detached homes, supporting relative price stability for those homes,” Lurie added.

The report also notes there are several factors that could impact the housing market over the next few years. The recently signed memorandum of understanding (MOU) between the federal and provincial government provides upside risk to the forecast, as shifts in federal regulatory barriers affecting the energy sector may encourage both confidence and investment in Calgary.

On the downside, the renegotiation of the Canada-United States-Mexico Agreement (CUSMA) this year could create additional uncertainty. Combined with lower energy prices, this could potentially slow positive momentum in business investment activity.

Click here to read the full CREB® 2026 Forecast Calgary and Region Yearly Outlook Report.

Courtesy of CREB

2025 housing market shifted to more balanced conditions

Mon, 05 Jan 2026 21:42:51 GMT

Following several years of strong price growth, 2025 marked a year of transition thanks to strong demand and limited supply. Due to record high starts, supply levels improved across all aspects of the housing market, just as demand pressure eased due to a reduction in migration levels and heightened uncertainty that persisted throughout the spring market. This helped shift the resale market from one that favoured the seller to one that was more balanced.

In 2025, sales reached 22,751 units, down 16 per cent over last year, but in-line with long-term trends. Much of the shift came from the growth in supply. 2025 saw over 40,000 new listings come onto the market, nine per cent higher than last year, causing inventories to rise and driving more balanced conditions.

“Supply levels were expected to rise in 2025. However, the growth was higher than expected especially for apartment condominium and row homes. This weighed on prices in those sectors enough to offset the annual gains reported for both detached and semi-detached homes,” said Ann-Marie Lurie, CREB®’s Chief Economist. "Adjustments in both supply and demand varied across the city, with pockets of the market continuing to experience seller’s market conditions versus some areas where the conditions favoured the buyer. This resulted in different price trends based on location, price range and property type.”

Overall, the annual average total residential benchmark price in 2025 was $577,492, two per cent lower than last year’s annual average. However, annual detached and semi-detached prices rose by a respective one and three per cent, while apartment and row homes saw prices fall by a respective three and two per cent.

Compared to other districts, the North East reported the largest decline in prices this year. While some of this is related to improved supply across all areas of the city, it is also important to note that the North East district also reported the strongest price growth over the past two years.

For the first time in three years, we are heading into the New Year with better inventory levels. Details on what is expected to happen in the market in 2026 will be released at CREB®’s annual Forecast Conference on Jan. 20, 2026.

Detached

Detached sales totaled 11,328 in 2025, down by nearly nine per cent compared to last year. Sales eased across all districts in the city, with the steepest declines occurring in the North East, East and City Centre district. However, unlike the City Centre, the North East and East districts also experienced significant gains in inventory compared to long-term trends, driving annual price declines of two per cent. Meanwhile, in the City Centre detached inventory remained well below long-term averages, which likely prevented stronger sales and contributed to the annual price growth of over three per cent. Despite the differing conditions in different areas of the city, slowing sales and rising supply citywide helped move the market into balanced conditions by the second half of the year. The annual average benchmark price was $752,767, one per cent higher than last year’s annual level.

Semi-Detached

Semi-detached homes represent the smallest segment of the market, accounting for less than 10 per cent of all sales activity. Sales in 2025 were 2,159, eight per cent lower than last year, but slightly higher than long-term trends. Trends for semi-detached homes have been relatively consistent with the detached market. However, it took longer for this segment of the market to shift to more balanced conditions, resulting in stronger annual price gains. In 2025, the average annual benchmark price was $685,850, nearly three per cent higher than last year. Prices did ease in the North district as competition for new homes weighed on resale activity, but the decline in this district was more than offset by the four per cent gain in the City Centre.

Row

2025 sales eased by 17 per cent to 3,838 units. Despite the decline, sales were still higher than long-term trends, as row homes are starting to account for a larger share of the overall activity in the city. At the same time, new listings also rose relative to sales, driving inventory gains and taking the pressure off prices. Conditions shifted to more balanced levels relatively early in the year, and by the last quarter conditions ranged from a balanced to a buyer’s market depending on the districts of the city. Overall, this contributed to the annual average benchmark price decline of two per cent. While prices were relatively stable in the City Centre, North West, West and East districts, additional supply in the resale market and competition from new homes caused prices to decline by four per cent in the North East and North districts.

Apartment Condominium

Apartment-style homes reported the largest adjustment in price in 2025. Sales declined by 28 per cent compared to the near record high levels achieved last year. While the decline was significant, sales were still over 28 per cent higher than long-term trends. The main cause of the shift in conditions was due to the supply. Over the past three years, there has been a rise in apartment-style starts. While most of the apartment starts were purpose-built rental, they are adding to the supply choice and weighing on the resale market. Resale condominiums saw the market shift in favour of buyers by the second half of the year, with elevated months of supply being reported in most districts of the city. This resulted in relatively persistent downward pressure on prices, causing the annual average benchmark price to decline by nearly three per cent. Price declines were the steepest in the North East nearing five per cent. The only area to report relative stability in the annual price was in the West district.

REGIONAL MARKET FACTS

Airdrie

Increased competition from the new home market, along with more supply options in competing resale markets, has contributed to the added supply in the resale market in Airdrie. Following four consecutive years of exceptionally low inventory levels, 2025 saw inventory rise to levels not seen since prior to the pandemic. While sales activity did remain in line with long-term trends despite an annual decline, the push up in inventories caused the months of supply to generally rise throughout the year. Overall, the annual average benchmark price eased by two per cent this year.

Cochrane

Sales in Cochrane were similar to last year and above long-term trends. While demand stayed relatively strong in the town, steady gains in supply did cause conditions to shift to a more balanced state by the end of 2025. With the shift occurring later in the year, we did not see the same downward pressure on prices. In fact, on an annual basis the benchmark price in Cochrane was $578,325, nearly three per cent higher than last year. Cochrane also tends to see a larger share of newer properties being listed and sold on the resale market, impacting the prices in the resale market.

Okotoks

Okotoks continued to struggle with supply growth. Inventories did rise by over 40 per cent, but levels were exceptionally low last year. Even with the gain in 2025, levels were still 30 per cent below long-term trends. Sales activity in the town remained consistent with the levels reported last year and were higher than long-term trends. The persistently low inventory levels generally kept market conditions relatively tight. However, total residential prices posted only a modest gain over last year, this is likely due to compositional shifts as price growth ranged from over one per cent for detached homes to nearly eight per cent for apartment condominium product.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy of CREB.

Five predictions on what mortgage shoppers can expect in 2026

Sun, 04 Jan 2026 20:56:00 GMT

Borrowers in regions where home values have taken big hits may find refinancing tougher in the new year

Lenders have grown surprisingly aggressive with their renewal pricing. Well-qualified borrowers who have paid as agreed can expect widespread renewal rate matching in 2026.

The new year brings fresh possibilities for mortgage shoppers. After painfully analyzing my artisanal tea leaves, here are five semi-safe predictions on what this year might serve up.

Flat-ish rates

Canada’s economy is still upright, doing its best to deal with the United States’ assault on free trade. Borrowing costs this year are essentially hostage to whatever happens during the Canada-United States-Mexico Agreement (CUSMA) negotiations. A Donald Trump threat to tear up the agreement could spook yields and, hence, mortgage rates, temporarily lower.

Most economists think the Bank of Canada will sit on rates for most of the year, with a possible hike reserved for the fourth quarter. The bond market is pricing in a 50/50 chance of tightening by year-end and almost no chance of a cut.

The other large question mark is how markets will respond to Trump’s new “yes man” chair of the U.S. Federal Reserve. If the Fed pushes short-term rates lower despite lingering inflation threats (bet on it), markets will revolt by adding a credibility premium to long-term bond yields. That could push up U.S. yields and take Canadian rates higher in sympathy.

Naturally, some unforeseen catastrophe that drives rates lower remains a possibility this year.

Pro tip: If Canada and the U.S. make up and a workable trade deal seems likely, economic growth could pick up again and exacerbate inflationary pressures. Many will then choose variable rates as rising bond yields make floating rates cheaper by comparison. Don’t be one of them. Lock in at least a portion via a hybrid mortgage, but don’t go all variable unless you absolutely need the flexibility.

Record renewals?

Almost one-third of mortgages will be up for renewal in 2026.

Across insured and uninsured borrowers with five-year fixed or variable mortgages, the average rate jumped to 3.84 per cent this year from about 1.77 per cent in 2021, based on data compiled by MortgageLogic.news.

That’s more than double the rate, translating into a payment increase of roughly $105 per month for every $100,000 borrowed.

Mind you, this is less pain than the renewal-shock forecasts being tossed around two years ago. That’s mainly because rates cooled off after their 2023 peak, incomes climbed and borrowers leaned on amortization extensions and lump-sum paydowns.

Delinquencies will edge higher, but 90-day arrears will stay below the 30-year average of 0.33 per cent. As a result, there will be no national default crisis — far from it — as Canadians would rather eat cold beans than lose their front door.

Happily, lenders have grown surprisingly aggressive with their renewal pricing. Well-qualified borrowers who have paid as agreed can expect widespread renewal rate matching.

Pro tip: Check the Financial Post’s daily mortgage rate table to see which lenders are currently the least greedy. Then, if you’re content with your current lender, tell them to match those rates or you’re taking your business elsewhere. Don’t forget that if you have an insured mortgage, be sure to check the “Insured” table. If you’re refinancing to pull money out, increase your loan amount or extend your amortization, use the “Uninsured” rate table.

OSFI scraps the stress test

If I were setting odds on the banking regulator ending the federal mortgage stress test for most prime mortgages, I’d put it at better than a coin flip.

Office of the Superintendent of Financial Institutions head Peter Routledge has already praised the regulator’s loan-to-income (LTI) limit, saying, “So far, we like what we are seeing.”

Moreover, policymakers have already scrapped the stress test for straight switches. So far, anecdotal evidence suggests the change has nudged banks to sharpen pricing to keep renewal customers from wandering off.

Stress test or not, borrowers in regions where home values have taken bigger hits may find refinancing tougher in 2026 as higher rates collide with less home equity.

Mortgage affordability will improve (slightly)

The recipe for mortgage affordability includes:

One part lower rates, at least when compared with the 2023 to 2024 era;
One part higher rental vacancy rates —which lowers rents and shifts demand from buyers — courtesy of record rental construction and slower population growth;
A dash of lower home values, especially when set against the 2021-to-2022 pricing fever;
A healthy scoop of longer amortizations, with most borrowers opting for 30-year schedules when they’re allowed to;
Equal parts rising incomes, averaging roughly three per cent to four per cent a year;
In battered markets — such as Toronto’s high-rise sector — 2026 could bring capitulation, driving prices even lower. That, combined with the other factors above, could hand first-time buyers their best shot at affordability in years, especially if square footage is not high on their wish lists.

AI incursion

Artificial intelligence (AI) is changing everything, and mortgages are predictably next.

This year will see lenders scramble to implement AI underwriting, setting the stage for faster, fully automated mortgage approvals.

“Time to funding” will become a key competitive differentiator. Nimble online competitors such as Pine Canada Financial Corp. and Nesto Inc. will launch instant approvals in 2026 and then use AI to verify income and validate documents, thus stealing market share from those relying on manual adjudication.

AI will also rein in mortgage fraud since robotic document analysis makes spotting forgeries and inconsistencies far less sporting.

Now, if the Canada Revenue Agency ever stops dragging its feet and launches automated online income validation, it would easily rank as the biggest mortgage win of the year.

Courtesy Robert McLister a mortgage strategist and editor of MortgageLogic.news. and the Calgary Herald

Calgary Condo Market Adjusts as Inventory Rises and Prices Hold Steady

Wed, 17 Dec 2025 16:25:00 GMT

Homebuying activity in Calgary’s condominium market has tapered in the second half of 2025 as a rising apartment inventory, a pullback in net international migration and an investor retreat take hold. Collectively, these factors contributed to a 28.5-per-cent decline in year-to-date sales with just over 4,800 resale apartments sold between January and October, compared to almost 6,800 units during the same period in 2024. Despite softer demand, average price has remained relatively stable, increasing slightly from $347,701 to $348,503.

Resale inventory levels in the city were up 18.6 per cent year-to-date in October, rising to 1,871 units as new supply continues to enter the market. Housing starts are at record levels in the city, with nearly 21,000 reported between January and September in Calgary by CMHC. The vast majority of new construction has been purpose-built rentals, with just 28 per cent designated as condominium and no single-detached product underway. Given current market conditions, a significant number of those condominiums may be diverted into the rental pool in the future.

The surge in rental supply has placed upward pressure on vacancy rates and subsequently, downward pressure on monthly rental rates. With even more inventory coming online, prospective homebuyers have adopted a wait-and-see approach. As a result, back-to-back interest rate cuts in September and October did little to draw buyers back into the condo market.

Employment and affordability concerns

While in-migration into the city during the pandemic years brought population levels to new highs, many newcomers—particularly younger arrivals—entered the market without employment secured. Unemployment rose to 7.9 per cent in October, as the number of full-time jobs remained well off peak levels. Residential investment has cooled in the city, with investors sitting on the sidelines. Rising costs, both for businesses and households, continue to weigh on affordability and consumer confidence. For cost-conscious consumers trying to keep monthly expenses to a minimum, condominium maintenance fees remain a sticking point, even with more accessible entry-level pricing.

Pockets of strength across the city

A number of neighbourhoods and price points bucked the downward trend, including homebuying activity in the upper end of the market. Twenty-four condominium apartments sold between $850,000 and $949,000—marking a 33-per-cent increase over year-ago levels. Sales between $1.3 million and $1.499 million rose more than 37 per cent, with 11 properties changing hands year to date, compared to eight in 2024.

Growth was also evident across several communities. In the northeast, Cityscape and Pineridge reported year-to-date increases in condominium apartment sales, as did Douglasdale/Glen and Mahogany in the southeast. Bowness and Greenwood/Greenbrier posted gains in the northwest, while Carrington, Huntington Hill and Livingston advanced in the north. In the south, neighbourhoods including Cedarbrae, Chinook Park, Walden and Wolf Willow also posted stronger activity, while Aspen Woods and Currie Barrack reported increases in Calgary’s west end.

Alberta’s economy is one of the strongest in the country in terms of GDP growth, with a favourable outlook for 2026. The energy-heavy province continues to benefit from limited exposure to US tariffs. Oil production remains a pillar of economic strength, bolstered by the Trans Mountain Expansion project, according to an October 2025 Royal Bank Insights report. Healthy consumer spending and solid housing activity further support the province’s performance. Rising unemployment remains the primary drag, one that is expected to ease in 2026. Overall, the resilient economic backdrop positions the market for improved homebuying activity in the year ahead. Absorption of existing apartment stock should help steady average prices in 2026 and support a more balanced condominium market.

Courtesy REMAX LLC

Conditions remain relatively balanced as we head into the winter months

Tue, 02 Dec 2025 18:13:48 GMT

In line with typical seasonal trends, sales, new listings and inventory levels all slowed relative to last month. The 1,553 sales were met with 2,251 new listings, causing the sales-to-new-listings levels ratio to improve to 69 per cent. This also helped support some of the inventory adjustment. However, with 5,581 units in inventory, levels are still 28 per cent higher than last year and over 15 per cent higher than typical levels reported in November.

“Supply levels have been sitting higher than typical levels for the past three months, mostly due to the gains occurring in the higher-density sectors of row and apartment style units,” said Ann-Marie Lurie, CREB®’s Chief Economist. “This is partially related to the additional supply choice coming from the new homes sector, some of which end up on the resale market, especially near the end of the year. While buyer’s market conditions are more prevalent for apartment-style homes and to a lesser extent row homes, outside of a few pockets of the market, both the detached and semi-detached markets are relatively balanced.”

The additional supply choice across resale, new and rental markets, is having the most impact on apartment and row style home prices which are reporting year-over-year price declines of seven and six per cent. In comparison detached home prices are down by two per cent compared to last November, but still higher than last year when looking at year-to-date figures. Overall, the unadjusted total combined residential benchmark* price in November was $559,000, nearly five per cent lower than last year.

*To keep the benchmark price relevant, once a year the attributes of a benchmark home are reviewed and the benchmark prices are updated. The review has been completed and the data has been updated. While all historical adjustments have occurred, old PDF monthly reports are not adjusted.

Detached

Detached sales in November were 823 units, just slightly lower than last year’s level, and relatively consistent with activity reported for November. The monthly reduction in new listings helped push down inventory levels compared to last month, but inventory remained well above the lower levels reported last year and are now relatively consistent with long-term trends. Overall, the months of supply remained around three months, reflecting a relatively balanced condition. Despite this we did see unadjusted prices trend down over last month, mostly reflecting seasonal patterns. As of November, the unadjusted detached benchmark price was $733,000, down by nearly two per cent compared to last November. However, when considering the year-to-date figures, prices are still one per cent higher than last year. Most of the downward price adjustments have occurred in the North East, North and East districts as competition from new homes and additional supply choice in other parts of the city are more heavily weighing on those districts.

Semi-Detached

Sales in November were comparable to levels reported last year and still well above long-term trends, but with new listings also higher than typical levels for this time of year, inventories rose to the highest November level seen over the past five years. While conditions have been generally tighter for this property type, over the past three months we have seen the months of supply remain above three months, resulting in more balanced conditions. While the unadjusted benchmark price of $671,700 did ease over last month, it remained stable compared to last year. Year-to-date price growth has been the strongest in this sector at nearly three per cent, with the largest gains occurring in the City Centre at four per cent, partially offsetting the one per cent pullback in the North district.

Row

November sales eased to 257, however, last year was a record high for the month and current sales remain above long-term trends. Where there continues to be more notable shifts is in supply. New listings remained comparable to last year and inventories, while reporting the typical seasonal decline, were at November levels not seen since 2018. The additional supply has caused the months of supply to remain slightly elevated, especially over the past three months. This has been placing some downward pressure on prices. In November, the unadjusted benchmark price was $424,400, down over last month and over six per cent lower than last year. While some of the monthly decline is seasonal, more persistent price declines have caused the year-to-date price to fall by nearly two per cent.

Apartment Condominium

This sector has struggled the most with excess supply. November sales dropped to levels consistent with long-term trends, but new listings remained elevated and November inventory levels hit a record high for the month. The months of supply edged near six months and has been sitting above four months since the summer. This has resulted in relatively persistent price adjustments throughout the second half of the year and as of November the unadjusted benchmark price was $309,300, seven per cent lower than last year at this time. Year-to-date the decline was just over two per cent, with the largest decline occurring in the North East district at nearly five per cent. The only district to see prices remain flat was the West district.

REGIONAL MARKET FACTS

Airdrie

As per typical seasonal behaviour, sales, new listings and inventory levels all eased over levels reported last month. Overall, both sales and new listings have remained at levels consistent with long-term trends for the month, but thanks to earlier gains inventory levels remain elevated for November. Some of the rise is due to a higher share of newer homes coming onto the resale market. The additional supply over the past several months has weighed on prices in Airdrie. While it has by no means offset the gains reported over the past four years, year-to-date benchmark prices for detached homes are down by nearly one per cent compared to last year.

Cochrane

The seasonal monthly pullback in new listings was not enough to prevent November levels from reaching a record high. While sales also remained relatively strong for November, it was not high enough to cause a more significant monthly pullback in inventories, which have not been this high in November since 2018. Some of the gains in new listings were due to a larger share of new homes being listed on the resale market. While recent gains in supply have caused some adjustments in price, prices continue to remain higher than levels reported last year. Year-to-date detached benchmark prices are nearly two per cent higher than levels reported last year.

Okotoks

Unlike other areas, sales in Okotoks improved compared to last month and were similar to levels reported last year. This in part could be related to the higher level of new listings that were available both in November and October, providing more choice to potential buyers. The Okotoks market has seen some recent gains in inventory levels, but overall supply remains well below long-term trends. Conditions have remained relatively tight in the Okotoks market and, despite some recent adjustments in prices, overall prices are still higher than last year on a year-to-date basis across each property type.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

2026 Canadian Housing Market Outlook

Thu, 27 Nov 2025 23:07:00 GMT

REMAX brokers and agents share an overview of national housing market activity in 2025 and their outlook for the year ahead.

The Canadian housing market could be on the upswing looking ahead to 2026, with more buyers preparing to enter the market and home sales expected to increase by 3.4 per cent next year. This follows signs of renewed buyer intent earlier this fall, compared to the first half of the year.

2025 Year in review

Listings rose across 75.8% of regions in 2025
More price moderation expected in 2026
The boost in listings was widespread in Southern Ontario
Home sales fell YoY in 19 of 33 markets

“Amid looming economic clouds, Canadians are maintaining their interest in homeownership,” says Don Kottick, President, REMAX Canada. “The resilience that began to emerge in the fall is anticipated to continue into 2026, with first-time buyers in particular finding creative ways to save and enter the market.”

Remote Work and Homeownership

Following looming economic headwinds, an emerging concern among first-time homebuyers is a rise in return-to-office mandates.
17% of Canadians are concerned about 'return to office' mandates
Respondents aged 18 to 34 and those planning to buy in the future are thinking more about how this might affect their search
Nearly half of respondents overall do not believe return-to-office will impact their situation

First-Time Buyers Gain Confidence as Rates Decline

According to a Leger survey commissioned by REMAX Canada, 10 per cent of Canadians say they’re planning to purchase a home in the next 12 months – an improvement from seven per cent in the fall, based on Leger survey data earlier this year. Although more than half of Canadians are feeling the economy will worsen in 2026, following an initial economic stall as seen in the earlier part of 2025, Canadians aged 18 to 35 are more hopeful, with 21 percent feeling the economy will fare better next year.

A Shifting Buyer Profile

REMAX brokers and agents across Canada found that families, new Canadians, and retirees drove a larger share of sales in 2025, marking a significant shift from 2024, when first-time buyers led sales across most Canadian markets.

While 17 percent of Canadians say they plan to purchase a home at some point (with 10 percent intending to buy within one year). Brokers are hearing that many buyers continue to watch the market closely for the right moment to make their move. Those planning to purchase their first home are more likely to be aged 18 to 34 and with kids under age 18.

Calgary Housing Market Outlook (2026)

The average residential sale price in Calgary has increased by 3.5 percent across all property types between 2024 and 2025 from $621,015 to $642,840. The number of sales transactions decreased by 15.8 percent for the same time period (from 23,864 to 20,082). The total number of listings decreased by 19.2 percent (from 33,728 in 2024 to 27,243 in 2025). Average residential sale prices will remain steady going into 2026, compared to 2025. Sales are anticipated to remain the same going into 2026, compared to 2025.

Trends in the Calgary Housing Market

Looking ahead to 2026, Calgary will continue to be a buyers/balanced market. The top three neighbourhoods anticipated to be the most desirable in the region in 2026 are Springbank Hill, Discovery Ridge and Rocky Ridge as the West side of Calgary tends to appreciate at a higher rate than all others, holding value through instability. Single-detached homes are expected to see the strongest demand and sales activity in the region in 2026.

Buying/Selling Trends for homebuyers and sellers:
First-time Homebuyers are looking in suburban areas and buying single-family homes around $800,000.
Move Up/Over Homebuyers are buying larger properties between $800,000 and $1,300,000.
Retirees are buying smaller homes like bungalows or semi-attached properties between $800,000 and $1,300,000.
New-home construction activity is comprised of condominiums which will increase affordability in the region, and homes farther out from the core create more affordable options. Construction is proceeding as planned.

Calgary is seeing increased inter-provincial migration from British Columbia and Ontario due to affordability challenges and economic concerns. The rental market is saturated and first-time buyers are able to hold their position to ensure affordability prior to entering the housing market. With a larger rental market, investors aren't particularly active in the region. Long-term, Calgary is well insulated from the rest of the country, particularly British Columbia and Ontario. While the pace has slowed, the market remains very active. Growing inventory and consumer confidence increase as buyers get comfortable with economic uncertainties, with sales remaining strong, but less than we've seen from 2021 through 2024.

Courtesy REMAX LLC

Why the Holiday Season Could be the Right Time to Sell Your Home!

Fri, 14 Nov 2025 23:13:00 GMT

Selling your home during the holiday season may seem daunting and can sometimes be a little bit trickier, but it doesn’t have to be! While the market naturally cools down with the weather, this can provide a unique opportunity for those braving the property market this winter.

With a combined experience of 50+ years in the industry here at Viani Real Estate Group, we have seen many benefits to selling a home during the colder months. First, we’ve found that buyers looking at homes during these months are more serious. This can largely be due to major life changes, such as moving for a job opportunity or to be closer to family. As such, they are typically highly motivated and well prepared. Coincidentally, sellers tend to be few and far between, thus creating less competition. Combined, this could lead to the right conditions which increase the likelihood of selling your home!

On the other hand, reduced real estate inventory can often lead to a lack of rush. While this may sound like a disadvantage, it can sometimes be quite the contrary. What we mean is, sellers don't face the same brutal competition, as mentioned above, as they usually would during the warmer months. Due to this, they have more time to make decisions, such as determining the best sale price or what they would like the contract conditions to be before listing their property. This can allow sellers to seize the opportunity to think about what they truly want from the sale of their home and how to achieve that goal. The team at Viani Real Estate Group would love to guide you through this process.

Right now, our team is seeing a shortfall in available homes for sale; however, motivated buyers know what they want and refuse to settle for less. You may be wondering how you can boost your curb appeal to stay ahead of the real estate game and appeal to the right buyer. There are various ways to elevate your property and maximize its value. We suggest the following:

Get into the holiday spirit and decorate! While it isn’t recommended to overpower the space, a simple wreath on the front gate and door and a string of warm lights does wonders in helping a buyer visualize living in your home.
Keep your property well-lit! As we go into winter, days shorten and get darker more quickly. Ensure your property can be viewed in ample lighting and that your ‘For Sale’ sign is well-lit.
Maintain your driveway and walkways! Shovel after every snowfall to ensure a safe walk through your property for potential buyers.
Make your home winter-ready! This could mean keeping the fireplace lit for warmth, redesigning your mudroom to make it more functional, clearing gutters, or sealing gaps in windows. Trust us, buyers will notice whether your property is an ill-equipped house or a cozy home prepared for winter.

Get ahead of the 2026 Spring rush and sell your home with us today!

Pace of new listings growth slows, preventing further inventory gains

Tue, 04 Nov 2025 20:32:00 GMT

Calgary, Alberta, Nov. 3, 2025 – Inventory levels eased over last month thanks to the combined impact of a monthly pullback in new listings and a monthly pick up in sales. With 6,471 units in inventory and 1,885 sales the October months of supply returned to three-and-a-half months after pushing up to four months in September. While both row- and apartment-style properties continue to report elevated supply levels compared to demand, conditions remain relatively balanced for both detached and semi-detached properties.

Year-to-date sales in the city totaled 20,082, down nearly 16 percent compared to last year, but still in line with longer-term trends. Much of the decline in sales has been driven by pullbacks for apartment- and row-style homes.

“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes. It is also these segments of the market that have seen October inventories reach a record high for the month,” said Ann-Marie Lurie, CREB®’s Chief Economist. “Excess supply for apartment- and row-style properties is weighing on prices in those segments more so than any other property type, influencing total residential prices.”

As of October, the total unadjusted residential benchmark price in Calgary was $568,000, down nearly one per cent compared to last month and over four per cent lower than last year’s levels. The largest price adjustments occurred for row- and apartment-style properties where prices have eased by a respective six and seven per cent compared to last October.

Detached

October sales reached 1,012 units, an improvement over last month, but still five per cent lower than last year’s levels. At the same time there were 1,593 new listings that came onto the market, causing the sales-to-new-listings ratio to rise to 64 per cent and inventories to trend down over last month to 2,913. Inventory levels remain slightly higher than long-term trends for the month, but with just under three months of supply, conditions remain relatively balanced and far better than conditions reported during the 2015 to 2019 period.

Despite relatively balanced conditions, there are pockets of the market that are experiencing buyer’s market conditions, which is impacting prices. Citywide detached benchmark prices eased to $744,400 in October, one per cent lower than last year. However, price adjustments ranged from a year-over-year gain of nearly two per cent in the City Centre to a decline of over five per cent in the North East district. Despite recent adjustments, year-to-date prices remain over one per cent higher than last year.

Semi-Detached

Sales improved over last month while new listings slowed, causing the sales-to-new-listing ratio to rise to 57 per cent, which is slightly lower than typical levels for this time of year, but high enough to prevent any significant change in inventory levels compared to last month. With 186 sales and 613 units in inventory, the months of supply was over three months, higher than last year’s extremely low levels, but lower than last month.

More inventory choice has weighed on prices over the past several months. However, with an October benchmark price of $683,100, prices remain nearly one per cent higher than last year and on a year-to-date basis are over three per cent higher than last year.

Row

With 275 sales in October, year-to-date row sales totaled 3,412 units, a 17 per cent decline over last year. While row sales remain well above long-term trends, new listings have been on the rise and reached record highs so far this year. As of October, there were 1,054 units in inventory, the highest ever reported for the month and nearly 32 per cent higher than long-term averages. This also caused the months of supply to remain around four months.

The additional supply choice has weighed on prices. The October benchmark price was $431,200, over one per cent lower than last month and nearly six per cent lower than prices reported last year at this time. The steady slide in row prices have caused year-to-date prices to drop by one-and-a-half per cent. Price adjustments did vary across the city with the largest year-to-date declines occurring in the North East and North districts.

Apartment Condominium

The pullback in new listings relative to sales this month did help prevent further gains in inventory levels. However, with 1,891 units in inventory and 412 sales, the months of supply remained elevated at nearly five months. Apartment condominiums have been experiencing buyer’s market conditions for nearly 6 months, placing downward pressure on prices. As of October, the benchmark price was $318,200, down over one per cent compared to last month, and nearly seven per cent lower than last October.

On a year-to-date basis, prices are nearly two per cent lower than last year’s levels. The largest year-to-date price declines occurred in the North East and South East districts at four per cent, as those districts are either reporting the highest months of supply on the resale market or are facing significant competition from the new home market.

REGIONAL MARKET FACTS

Airdrie

Activity slowed as we moved into October. While sales have remained consistent with longer-term trends, new listings reached a record high for October, keeping inventories elevated. With 535 units in inventory and 136 sales, the months of supply remained over four months. The persistently higher months of supply over the past four months, combined with additional supply choice in the new home market, has weighed on resale home prices. Prices in Airdrie have been trending down since April of this year and as of October the benchmark price was $520,400, nearly one per cent lower than last month and nearly five per cent lower than last year’s levels.

Cochrane

Sales in Cochrane improved this month, keeping year-to-date sales at levels that are relatively consistent with last year. At the same time, while levels remained high, new listings did trend down over last month, causing the sales-to-new-listings ratio to rise to 55 per cent and preventing any further gains in inventory levels. The months of supply eased to just over four months in October, higher than the low levels reported over the past several years, but relatively more consistent with long-term trends for the month. As of October, the benchmark price was $585,200, similar to last month and over two per cent higher than last year. Year-to-date prices in the area have risen by nearly four per cent. Some of the gain in prices could be related to a larger share of new homes ending up being sold on the resale market in Cochrane.

Okotoks

October reported 91 new listings on the market, a significant gain over last month and last year’s levels. The rise in new listings was met with slower sales activity, causing the sales-to-new-listings ratio to dip below 50 per cent, supporting a modest gain in inventory levels. While inventory levels are finally improving, they remain low relative to longer-term trends. This has likely prevented a more significant shift in prices in the Okotoks area. In October, the unadjusted benchmark price was $618,600, up over last month but consistent with last October. Year-to-date benchmark prices have improved by over one per cent.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy Calgary Real Estate Board

10 Things Homeowners Should Do Before the Snow Falls

Mon, 03 Nov 2025 23:10:00 GMT

The trees are changing colours, the leaves are falling, and the scent of pumpkin spice fills the air. Sadly, everyone’s favourite season is coming to an end — and believe it or not, winter is on its way. Once November hits, it’s the perfect time to start tackling your fall home maintenance checklist. Making sure your home’s cold-weather systems are running efficiently can save you both money and major headaches in the long run.

Drain the Hose

Watering season is over, but you’re not done with your outdoor watering system quite yet. To avoid cracked hoses and burst faucets over the winter, turn off water valves in your home and drain all remaining water from the taps and hoses. Tip: Unrolling the hose down a gentle slope will let the water run out completely.

Clear Vents

To prevent ice dams — ridges of roof ice that prevent melting snow from draining — ensure attic vents are free of debris. Poor soffit ventilation can increase mold inside the house and damage wood shingles during the winter months. Tip: A leaf blower or a pass with a pressure washer will clear them out and prep them for winter snow.

Clean the Chimney

Ahhh, there’s nothing quite like the warming atmosphere of a wood-burning fireplace in the dead of winter. But once you’ve cozied up to your 70th fire, get that chimney inspected and cleaned of excess creosote, because it may cause chimney fires. Tip: Run the point of a fire poker inside the chimney liner and if there’s more than three millimetres of gunk, call a certified chimney sweep.

Store Pots & Planters

If you decide to keep your collection of colourful clay pots outside for winter, make sure you empty the soil before you do. The moisture in the earth will expand when frozen, which can crack those precious ceramic containers. Tip: Removing the soil now will make it easier to reposition and replant the pots come springtime.

Mind in the Gutter

Backed up gutters can cause all sorts of wintertime hassles such as roof leaks, ice dams and wall-focused water damage. Before the snow comes, get your gutters cleared out by a professional — leave ladders to the insured experts. Tip: Make sure all downspout extensions run at least 1.5 metres away from your home’s foundations.

Caulked & Ready

A thin line of silicone caulking is one of the best ways to seal gaps in siding, windows and door frames. If you can see a gap that’s bigger than the width of a nickel, you need to get on it, to stop drafts and water damage in their tracks. Tip: Pick up some weather stripping for doors as well — you shouldn’t be able to see daylight from inside your home.

Inspect the Roof

Pull out a pair of binoculars and give your roof a careful once-over. Keep your eyes peeled for damage or missing or loose shingles. Hire a handyman for patching jobs, or a roofing company for larger sections in need of some TLC before winter comes. Tip: Take time to investigate the flashing around chimneys and vent stacks, too.

A/C Prep

While it may be tempting to wrap your entire external air-conditioning unit in miles of plastic wrap, resist the urge. Doing this can cause corrosion and is an inviting spot for nesting rodents. Instead, place a piece of made-to-measure plywood over the unit during winter and protect it from large, falling icicles and snowdrifts.

Heating Up

Don’t wait until the thermometer dips below zero to think about your home’s heating system; prep now and be ready. A technician can inspect, test and clean your furnace or heat pump to ensure they’re in tip-top shape for winter. Tip: Ask for a carbon monoxide measurement at the same time as the inspection.

Flip It and Reverse It

If your home is kitted out with ceiling fans, check the settings for a reverse option. Running fans in the opposite direction creates an updraft, pushing down heated air, which can help reduce your energy bill. Tip: If you have high ceilings, consider switching out the fan units for ones that have this setting.

Before the temperature drops too much, make sure your home is ready to handle the cold, wet winter months. A little prep work and elbow grease now will go a long way to help your home weather the coming storms, literally.

Courtesy REMAX LLC

Bank of Canada Lowers Policy Rate by 25 Basis Points

Thu, 30 Oct 2025 22:25:00 GMT

The Bank of Canada has lowered its target for the overnight rate by 25 basis points to 2.25%, marking its second consecutive rate cut this year. This decision comes amid continued economic uncertainty, influenced by US trade policy and a softening labour market, as the Bank seeks to support growth while maintaining price stability.

In its statement, the Bank noted that “Canada’s economy contracted by 1.6% in the second quarter, reflecting a drop in exports and weak business investment amid heightened uncertainty. Meanwhile, household spending grew at a healthy pace.” The Bank also expects growth to receive support from rising consumer and government spending and residential investment, before picking up gradually as exports and business investment begin to recover.

This latest rate cut may help stabilize housing demand and market confidence through the remainder of 2025, but the Bank emphasized a cautious outlook as Canada faces a period of economic transition.

Bank of Canada’s 2025 Policy Interest Rate Announcement Schedule

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2025 is as follows:

Wednesday, January 29
Wednesday, March 12
Wednesday, April 16
Wednesday, June 4
Wednesday, July 30
Wednesday, September 17
Wednesday, October 29
Wednesday, December 10

Read the full interest rate announcement below:

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

With the effects of US trade actions on economic growth and inflation somewhat clearer, the Bank has returned to its usual practice of providing a projection for the global and Canadian economies in this Monetary Policy Report (MPR). Because US trade policy remains unpredictable and uncertainty is still higher than normal, this projection is subject to a wider-than-usual range of risks.

Canada’s Hottest Real Estate Markets Right Now

Thu, 16 Oct 2025 22:19:00 GMT

Whether you’re buying, selling, or investing, knowing where the hottest real estate markets are is critical to making smart decisions. Market conditions are shifting in 2025, with traditional locales like Toronto and Vancouver priced out of reach for many homebuyers and showing lower returns for investors. Meanwhile, emerging markets in unexpected places are becoming more attractive to buyers.

What Makes a Real Estate Market Hot?

Before discussing the hottest real estate markets in Canada, it’s important to ask what makes a real estate market hot. Key indicators are:

Low housing supply compared to demand.
Multiple-offer situations and bidding wars.
Quick selling times.
Rising home values.

The hottest real estate markets aren’t necessarily the most expensive ones; they’re locations where demand is high and sales are strong. Today’s hot markets are driven by numerous factors, including:

Population migration to more affordable areas.
Remote work flexibility.
Economic diversification, such as growing tech industries and government investment in infrastructure and services.
Demographic changes such as aging Baby Boomers moving to smaller homes, and younger families immigrating to Canada.
Investor behaviour based on localized opportunities.

These causal factors help to explain why markets vary across the country and even within a particular region. For example, the hottest real estate markets in Ontario might be driven by population growth and tech sector opportunities. In contrast, the hottest real estate market in BC might depend more on international investment and lifestyle factors.

The Prairies

If you’re looking for the single hottest real estate market in Canada, you might find it in the Prairie provinces.

Saskatchewan

Saskatchewan may not instantly spring to mind when you’re considering where to buy, but you might want to take a closer look. With the South Saskatchewan River flowing through its centre, Saskatoon offers fantastic outdoor spaces right alongside a bustling research community and resource-based industries. Home prices in Saskatoon have risen 8.2% year-over-year as of August 2025. Regina continues to be affordable, but with growing demand and limited inventory, prices are expected to rise steadily. With its strengths in mining and agriculture, Regina has the long-term economic stability to support home values going forward.

Alberta

Although Calgary’s housing market is returning to a balanced state, Edmonton remains one of the hottest real estate markets in the prairie provinces, with detached homes seeing a 5.3% annual price increase in August 2025. Edmonton’s affordability, strong job growth in energy and technology, and high quality of life continue to attract new residents.

Manitoba

Manitoba frequently gets overlooked by house hunters and investors, but it deserves serious consideration. Its strong agricultural base and manufacturing centre complement its central location to make it appealing for people who value stability.

Home values in Winnipeg saw an 8.1% increase year-over-year in August 2025, making it one of the hottest real estate markets in the region. Winnipeg is a great choice for home buyers who want excellent food and entertainment options as well as amazing outdoor adventure opportunities.

Atlantic Canada

Some of the hottest real estate markets in Canada are on the East Coast, but the best investments have shifted a bit in recent years. While Nova Scotia remains attractive, markets have cooled somewhat, and the spotlight is now on Newfoundland and New Brunswick.

Newfoundland and Labrador currently lead the country in annual increases in home prices, with a 12.3% year-over-year increase as of August 2025. St. John’s is attracting new and returning residents with its laid-back lifestyle, abundant fresh seafood, and easy access to European and US destinations.

New Brunswick also boasts some of the hottest real estate markets in Canada. In August 2025, Fredericton saw a 6.2% increase in home prices from August 2024, while the average sale price for homes in Saint John rose 10.5% over the same period.

Quebec

When looking for the hottest real estate markets in Canada, take a closer look at Quebec. You may not be considering it due to the higher income taxes, and if you don’t speak French, you may be intimidated by having to learn it. However, Quebec residents will tell you that you get excellent value for your tax dollar there, and that there are many communities where you can live and work without speaking French at all.

Quebec City, with all of its charm and culture, is not just a great tourist destination! It’s experiencing robust demand for real estate, with single-family homes rising 7% in value over the past year. Homes in Montreal recently reached an all-time high, with prices having increased 8.9% from August 2024 to August 2025.

Lower overall home prices, lower cost of living and very high quality of life have made Quebec one of the hottest real estate markets in Canada.

Ontario

Although many home buyers balk at the high home prices in Toronto, Ontario still has affordable options and great opportunities for real estate investors.

Peterborough and the Kawarthas

With its sparkling lakes and abundant forests, the Peterborough/Kawarthas area is still close enough to both Toronto and Ottawa for times when you need big-city attractions. Entry points for real estate are still reasonable, and home prices have increased about 3% over the past year. Investors can take advantage of the robust vacation rental market and the student rental market in Peterborough.

Rideau Lakes

This area features an impressive system of connected lakes and waterways that are perfect for boating enthusiasts and hikers. Low entry points and steadily rising home prices make it a great option for house-hunters and investors alike.

Northern Ontario

Look to Thunder Bay for one of the hottest real estate markets in Ontario. Homes in Thunder Bay are being snapped up quickly, with a huge increase in total sales being fueled by a growing number of homes on the market as well as rising prices.

To find the hottest real estate markets in Canada right now, look outside the traditional hotspots in Ontario and British Columbia. Markets are balanced in many areas, while prices are actually decreasing in others. Time purchases and sales strategically to get the best value and return on your investment. Work with an experienced real estate agent for the smartest, most up-to-date insights on what’s going on in Canada’s vast and varied real estate landscape.

Courtesy REMAX LLC

A boost in new listings drives further inventory gains and price adjustments

Sat, 04 Oct 2025 05:14:56 GMT

The 1,720 sales in September were not high enough to offset the 3,782 new listings coming onto the market, driving further inventory gains as we move into the fall. There were 6,916 units in inventory in September, 36 per cent higher than last year and over 17 per cent higher than levels traditionally reported in September. Both row and apartment-style homes have reported the largest boost in supply compared to long-term trends.

“Supply levels have been rising in the resale, new home and rental markets. The additional supply choice is coming at a time when demand is slowing, mostly due to slower population growth and persistent uncertainty. Resale markets have more competition from new homes and additional supply in the rental market, reducing the sense of urgency amongst potential purchasers. Ultimately, the additional supply choice is weighing on home prices,” said Ann-Marie Lurie, CREB® Chief Economist.

Supply levels relative to demand typically drive shifts in home prices. In September, the sales to new listings ratio dipped to 45 per cent, and the months of supply pushed up to four months for the first time since early 2020. This is a higher level of supply compared to demand than is typically seen in the Calgary market and, should this persist, we could see a market that shifts more in favour of the buyer. However, conditions do vary by property type, price range and location.

Inventory gains for apartment style homes over the past several months have contributed to buyer market conditions in this segment, driving year-over-year price adjustments of over six per cent for a total benchmark price of $322,900 in September. While the detached segment has also seen a rise in the months of supply, it has not been as high as the apartment condo sector. At a benchmark price of $749,900, detached home prices are only one per cent lower than last year, with most of the adjustments driven by the North East and North districts.

Detached

Sales in September slowed to 859 units, nine per cent lower than last year and below long-term trends for September. At the same time, new listings rose to 1,905 units, causing the sales to new listings ratio to fall to 45 per cent, levels not seen since 2018. While there has been an unexpected shift in September, it is too early to tell if this trend will continue as prior to this month the detached market has remained relatively balanced.

Improved supply choice is causing prices to decline relative to the record highs reported during the spring. As of September, the unadjusted benchmark price was $749,900, down nearly one per cent from both last month and last year. While prices have eased from peak levels across all districts, the largest decline occurred in the North East and East district at over six per cent. Despite recent adjustments on a year-to date basis, prices remain nearly two per cent higher than last year’s levels, with the City Centre reporting the highest gain at over four per cent.

Semi-Detached

New listings rose to 361 units in September, while sales fell to 156 units, causing the sales to new listings ratio to drop to 43 per cent. This also caused a rise in inventory levels and the months of supply pushed up to nearly four months. This is a significant shift compared to last month, where there was less than three months of supply.

Like the detached sector, it is too early to say if this trend will continue, but so far it has had minimal impact on home prices. As of September, semi-detached price was $684,800, slightly lower than last month and nearly one per cent higher than last year. Year-to-date price growth has been the highest for semi-detached homes at over three per cent, as this segment took longer to shift from a seller's market to one that was more balanced. Most of the price growth was driven by gains reported in the City Centre.

Row

Following a pullback last month, new listings posted modest monthly gains. The 592 new listings were met with 304 sales, causing the sales to new listings ratio to fall to 51 per cent. This is not as low as the other property types and at these levels it was enough to prevent any further monthly gain in the already elevated inventory levels. September inventory levels were 1,099 units, the highest September level reported since 2018, and 30 per cent higher than longer-term trends for the month. The largest gains in inventory occurred in the North East district, which also reported the highest months of supply and price decline compared to last year.

More supply choice has impacted resale prices, with the unadjusted benchmark price being $437,100. This is down less than one per cent over last month and nearly five per cent lower than last year’s prices. Year-to-date price adjustments have been much smaller at one per cent, as declines in the North East, North and South East districts offset the gains reported in other parts of the city.

Apartment Condominium

The most significant adjustment in the market occurred in the apartment condominium sector as improving rental supply, delayed adjustments in interest rates and improved selection for other property types has slowed apartment style demand from both first-time buyers and investors. September reported 401 sales and 924 new listings, dropping the sales to new listings ratio to 43 per cent and causing inventory to rise to 1,999 units.

The rise in supply caused the months of supply to push up to five months, the first time it has done that since 2021. As elevated levels of supply have persisted since June, prices have been trending down. As of September, the benchmark price was $322,900, down over one per cent compared to last month and over six per cent compared to last year. The year-to-date price adjustment has been just over one per cent. Condo prices have slid across all districts compared to last September. The largest decline occurred in the North East district at over ten per cent, while the smallest decline occurred in the City Centre at five per cent.

REGIONAL MARKET FACTS

Airdrie

New listings reached a September record high with 295 units. The gains in new listings were met with a pullback in sales causing the sales to new listings ratio to fall to 45 per cent and inventory rose to 571 units. While inventories have been generally trending up throughout this year, this is the first time that the months of supply pushed above four months since 2020. The improved options weighed on home prices, which continued to trend down this month. In September, the unadjusted benchmark price was $526,000, down one per cent compared to last month and nearly five per cent lower than last year's levels. Despite recent adjustments year-to-date prices declined by just over one per cent, not enough to offset last year's annual growth of eight per cent.

Cochrane

New listings in Cochrane also hit a September record high with 148 units. While sales are similar to last year's levels at 62 units, the boost in new listings did cause the sales to new listings ratio to drop to 42 per cent this month. This led to further inventory gains and the months of supply pushed above five months. Improved supply levels also took more pressure off home prices this month. In September, the unadjusted benchmark price was $584,300, down by nearly one per cent compared to last month, but still one per cent higher than last year's levels. Much of the supply adjustment has only recently occurred in the Cochrane market and the year-to-date benchmark price remains nearly four per cent higher than last year.

Okotoks

Okotoks was one of the few larger areas that did not see a lift in new listings in September. The 69 new listings were down compared to levels reported last year, and with 51 sales this month, the sales to new listings ratio remained elevated at 74 per cent. While inventory levels were only slightly higher than last month, the months of supply has remained relatively low at two and a half months. Despite the relatively tight conditions, prices continued to adjust in the market. This in part can be related to the competition from new properties, impacting resale prices. As of September, the total residential benchmark price was $613,900, down by over one per cent compared to last month and nearly three per cent lower than last September. Despite the adjustment, on a year-to-date basis, prices were still one and a half per cent higher than last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

5 Things That Will Affect Calgary Real Estate in the Next 10 Years

Wed, 01 Oct 2025 00:23:00 GMT

Like any housing market in Canada, Calgary real estate has navigated extreme changes in recent years due to the pandemic, economy and supply chain issues. While home prices peaked a couple of years ago, interest rates remain high, making buying a home quite expensive. However, Calgary’s liveability, relative affordability compared to other parts of Canada, and diverse economy make it a desirable place to live. If you want to get into the Calgary housing market, here are a few things to consider in the next 10 years.

Inflation and Affordability in Calgary

Inflation is at the forefront of everyone’s minds. It is getting increasingly difficult to afford even the necessities, never mind putting anything extra into savings to buy a house. Additionally, interest rates have skyrocketed, making a house even more out of reach. As a result, the amount of money people can save and borrow to finance their homes is taking a significant hit, which has slowed price growth and made it much harder for first-time homebuyers to qualify for a mortgage.

Calgary real estate statistics reveal that while the city remains more affordable than markets like Toronto or Vancouver, the inflation-driven cost increases are affecting buyers across all price ranges. Continuing high interest rates are making it harder for borrowers to pass the federal government’s mortgage stress test. The stress test requires borrowers to prove they can afford to make payments that are the higher of: a) two per cent above the contract rate, or b) the government benchmark of 5.25 per cent. This, in turn, could lead to changes in the types of homes built in Calgary, with some people turning to group ownership or smaller homes.

Supply and Demand in Calgary Real Estate

When it comes down to the basics, the prices of homes in Calgary and whether they rise or fall essentially comes down to how many are on the market at any given time and how many people want them. The recent rise in prices can be attributed to the high demand during the pandemic and several years of less-than-ideal housing stocks.

Unlike some other Canadian cities, Calgary has the advantage of adding more housing relatively easily because new construction is not restricted by physical or municipal barriers. So, more houses will be built to accommodate the high demand, but it will take a bit of time.

The Calgary area real estate development pipeline shows promising growth in new construction starts, though many projects remain months or years from completion. Developers are increasingly focusing on multi-family dwellings and transit-oriented communities to maximize land use and address housing shortages.

Building Costs and Supply Chain Issues in the Calgary Real Estate Market

As inflation has impacted Calgary residents trying to buy food and gas, rising costs have also affected Calgary and the real estate market. Supply chain issues during the pandemic, combined with high shipping and material costs, have resulted in homes being built for far more money than they used to be.

In addition, homebuyers have been more focused on energy efficiency and environmentally friendly home materials. Although sustainable homes are good to strive for, they come at a price. Homebuyers either must come up with more money to buy a house the same size or use the same amount to buy a smaller home.

H2 The Rise of Tech in Calgary

Calgary has been working for years to attract startups to the city, and its efforts have begun to pay off. They rose six points to number 28 on CBRE’s annual scoring of tech talent, indicating that they are reining in tech companies and workers. As a result, Calgary-based tech companies netted a record $322.2 million in funding.

Technology will also play a role in Calgary’s real estate scene in the coming years. The rise of e-commerce and new concepts like e-scooters have changed how people live in the city, making it more accessible for homebuyers in all areas of Calgary. Since residents are no longer required to live near their workplaces and other frequently visited areas, Calgary is likely to see a shift to previously less popular neighbourhoods, as they are further removed from the city’s central hubs. There could be a more distributed development pattern for Calgary in the coming decade, with innovation hubs potentially emerging across the city rather than concentrated solely downtown.

How Working from Home Has Impacted Calgary Real Estate

Even before the pandemic, Calgary was beginning to face a problem with downtown office vacancies due to a shift in how work is conducted. During the pandemic, it shifted even more, and now many workers opt to keep a work-from-home job rather than find a job in an office. Working from home makes people more open to moving to the suburbs of Calgary or even into rural Alberta. Despite downtown Calgary showing signs of revitalization through strategic office-to-residential conversions and increased transit ridership, the hybrid work model also remains prevalent across many industries.

The flip side is that working from home requires more space in homes for offices, which could increase demand for larger homes in established communities. While some people are taking advantage of remote work to move to rural communities, most people are opting to remain in urban centres like Calgary to retain a sense of community or look to surrounding cities like Airdrie, Cochrane, and Okotoks for cheaper real estate.

Calgary area real estate companies continue to respond to this mixed work environment by creating flexible living spaces that accommodate both remote work needs and reasonable commutes to downtown offices. This has created interesting movement patterns on the Calgary real estate map, with some previously overlooked neighbourhoods gaining popularity due to their balance of space, affordability and accessibility to the gradually revitalizing downtown core.

How is the Calgary Real Estate Market Right Now?

So, how is the real estate market in Calgary at the moment? Real estate in Calgary is experiencing modest but steady growth. Unlike the more volatile markets in Toronto and Vancouver, Calgary offers more affordable housing, with average prices hovering around $616,000. However, Calgary luxury real estate listings continue to attract interest from both domestic and international buyers.

The current Calgary real estate statistics show increased buyer activity compared to previous years, driven largely by interprovincial migration and the city’s strong job market. Neighbourhoods throughout the Calgary area real estate map are experiencing varied growth patterns, with communities near transit lines and employment centres commanding premium prices.

Investors are particularly drawn to the stability of the Calgary real estate market, which has managed to avoid the dramatic swings experienced in other major Canadian cities. With inventory levels remaining relatively tight and demand staying consistent, Calgary’s housing sector presents a balanced environment for both buyers and sellers as we move toward the long-term trends that will shape the next decade.

As Calgary’s real estate market continues to evolve in the next ten years, residents can continue to adapt to changes in how they work and navigate the city. Building new forms of housing can help meet the needs of a diverse population and maintain affordability while adapting to changes in the city’s housing sector.

Courtesy REMAX LLC

Bank of Canada Cuts Policy Rate to 2.50%

Fri, 19 Sep 2025 00:27:00 GMT

The Bank of Canada lowered its overnight rate target to 2.50%, a 25 basis point cut. This marks the first rate reduction from the Bank since March. The move comes amid slowing Canadian and global economic growth and a weaker labour market that has led to rising unemployment. In addition, Canada’s GDP declined in the second quarter due to tariffs and trade uncertainty. However, according to the Bank, consumption and housing activity both grew at a healthy pace.

Despite these challenges, the Bank noted, “With a weaker economy and less upside risk to inflation, Governing Council judged that a reduction in the policy rate was appropriate to better balance the risks. Looking ahead, the disruptive effects of shifts in trade will continue to add costs even as they weigh on economic activity. Governing Council is proceeding carefully, with particular attention to the risks and uncertainties”.

For buyers and sellers, this rate cut could bring renewed momentum into the housing market heading into the fall. Lower borrowing costs may improve buyers’ affordability and encourage more market activity. At the same time, sellers could see an uptick in demand. That said, ongoing global uncertainty and slow economic activity may temper confidence in the coming months.

Bank of Canada’s 2025 Policy Interest Rate Announcement Schedule.

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2025 is as follows:

Wednesday, January 29
Wednesday, March 12
Wednesday, April 16
Wednesday, June 4
Wednesday, July 30
Wednesday, September 17
Wednesday, October 29
Wednesday, December 10

Read the full interest rate announcement below:

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.

After remaining resilient to sharply higher US tariffs and ongoing uncertainty, global economic growth is showing signs of slowing. In the United States, business investment has been strong but consumers are cautious and employment gains have slowed. US inflation has picked up in recent months as businesses appear to be passing on some tariff costs to consumer prices. Growth in the euro area has moderated as US tariffs affect trade. China’s economy held up in the first half of the year, but growth appears to be softening as investment weakens.

Price declines mostly driven by higher density home types

Tue, 02 Sep 2025 21:20:00 GMT

Improving supply choice has changed the dynamics of the Calgary market driving price declines over the past several months. Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down over last month and nearly four per cent lower than levels reported last year.

“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice,” said Ann-Marie Lurie, Chief Economist at CREB®. “Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”

August reported 1,989 sales, nearly nine per cent lower than last year. Sales have slowed compared to the high levels reported over the past four years. However, activity is still above long-term trends, reflecting relatively strong demand. What has changed is the supply situation. New listings remain elevated, keeping the sales-to-new-listings ratio below 60 per cent and pushing inventory to 6,661, the highest August amount since 2019.

More inventory choice coupled with lower sales has caused the months of supply to rise to 3.4 months in August, much higher than the sellers' market conditions reported over the previous four years, but still well below the buyer market conditions observed prior to the pandemic. While the market is much more balanced compared to last year, there is significant variation depending on property type, price range and location.

Detached

Detached home sales eased to 995 units in August, while new listings rose to 1,748 units, keeping the sales-to-new listings ratio below 60 per cent. This prevented any significant shift in inventory, as the 3,051 units were the highest levels reported in August since 2020. Higher inventory levels and easing supply have helped balance out the detached market. However, districts like the North East, North and East are experiencing buyer market conditions.

The unadjusted benchmark price in August was $755,600 down by nearly one per cent over last month and last year's levels. While prices have eased there is significant variation depending on location. Compared to last year, prices reported the largest decline in the North East and East district at five per cent, while prices in the city centre were over two per cent higher. As many of the adjustments have occurred over the past few months, year-to-date Calgary prices remain two per cent higher than last year.

Semi-Detached

August sales improved over last year’s levels, but it was not enough to offset earlier pullbacks with year-to-date sales of 1,557—eight per cent lower than last year—but higher than long-term trends. At the same time, new listings slowed compared to sales pushing the sales-to-new listings ratio up to 67 per cent and preventing any further monthly inventory gains. Inventory gains have not been as high for this product type, and the months of supply remained below three months in August. This is one of the reasons that the prices have not seen the same adjustment.

In August the unadjusted benchmark price was $687,200 down over last month, but nearly one per cent higher than last year, and nearly four per cent higher on a year-to-date basis. Price growth has varied across the city, with the largest year-over-year gains occurring in city centre. Meanwhile the largest declines have occurred in the North East, East and North districts.

Row

Sales in August slowed, contributing to the year-to-date decline of nearly 16 per cent. While new listings did ease in August compared to last year and last month, they have generally been on the rise pushing up inventory levels. In August, there were 1,103 units in inventory, reaching the second highest level on record for August, only slightly lower than the record high in reported in 2018. Due to the relatively strong sales, the months of supply has only pushed slightly above three months, far more balanced than last year, but not as high as the 6.4 months report back in 2018.

Nonetheless, additional supply choice has weighed on prices. In August, the unadjusted benchmark price in the city was $439,600, reflecting the fourth consecutive monthly decline and nearly five per cent lower than last August. While prices eased across all districts, price declines exceeded five per cent in the North East, North, South and East districts. These districts generally reported high levels of supply in the resale sector or had significant competition from new home supply.

Apartment Condominium

Sales continue to slow in August contributing to a year-to-date pullback of nearly 30 per cent. While sales are still above long-term trends, they have not been high enough to offset the level of new listings in the market. In August alone there were 877 new listings compared to the 449 sales, keeping the sales-to-new-listings ratio relatively low at 51 per cent. The low ratio that has persisted throughout this year has contributed to the higher inventory levels seen in the market. While August inventory levels did not rise over last month, with 1,979 units available, this is the highest August inventory ever reported.

The months of supply for apartment condos have remained around four months since June. The excess supply relative to demand has been weighing on prices. As of August, the unadjusted benchmark price was $326,500, reflecting the fifth consecutive monthly decline and nearly six per cent lower than levels reported last August. Most of the supply is concentrated in the City Centre, which reported a year-over-year decline of five per cent, slightly higher than the rate of decline reported in the West district at three per cent. Meanwhile, the highest price declines occurred in the North East district at over 11 per cent.

REGIONAL MARKET FACTS

Airdrie

Easing sales in August contributed the year-to-date decline of 12 per cent for 1,248 sales so far this year. The 152 sales this month was met with 265 new listings, pushing the sales-to-new listings ratio up to 57 per cent and preventing any further monthly inventory gains. As of August, there was 535 units in inventory, above long-term trends and the highest levels reported since before the pandemic. The rise in supply has helped shift the market to more balanced conditions. However, with more supply options in both the new home, resale markets and in competing locations, there has been some downward pressure on prices in Airdrie. In August, the unadjusted total residential benchmark price was $531,100, down over last month and four per cent lower than levels reported last August.

Cochrane

The 70 sales this month were met with 139 new listings causing the sales-to-new listings ratio to fall to 50 per cent, the lowest ratio reported for August since 2015. The pullback in sales compared to new listings prevented any significant shift in inventory levels, pushed the months of supply up above four months. Despite the shift this month, prices in Cochrane remained relatively stable in August, with the unadjusted benchmark price sitting at $589,100, similar to last month and nearly two per cent higher than last year. On a year-to-date basis prices are four per cent higher than the previous year.

Okotoks

New listings in August reported a significant pullback relative to sales and the sales-to-new-listings ratio pushed up to 80 per cent. While sales have generally remained in line with long-term trends, new listings have not had the same increase that other areas have reported, preventing significant gains in inventory levels. As of August, there was 116 units in inventory, a 29 per cent gain over last year, but still 30 per cent lower than levels traditionally seen in August. Despite tighter conditions, prices have reported some monthly declines. However, year-to-date benchmark prices remained two per cent higher than last year’s levels, with gains reported across each property type.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Slow recovery underway for Canada’s housing market

Sat, 30 Aug 2025 20:02:00 GMT

The nation’s resale real estate market appears to be recovering from a slowdown in activity that bottomed in the spring amid concerns over a trade war. Still, a new report from RBC Economics noted that Canada’s two largest markets — while seeing an increase in sales in July, year over year — remain weighed down by a lack of affordable supply for first-time buyers. In turn, new listings have grown year over year in Toronto and Vancouver to match rising sales, resulting in a decline in overall prices.

The study found the national picture is modestly brighter, though the large markets still are affecting growth. Resales grew nearly seven percent year over year and almost four percent month over month in July.

New listings grew about six per cent in July from last year, and were flat from June to July.

Prices were also flat month over month, though down about three percent from last year.

Calgary and Edmonton were among the three major markets seeing year-over-year declines in resales, down about nine and two percent respectively. Sales, however, increased about three per cent in Calgary month over month, while they grew almost two per cent in Edmonton. Vancouver was the other market in the study seeing a decline, down about two per cent year over year — though up nearly nine per cent in July from June.

New listings increased about eight per cent in Calgary and 16 per cent in Edmonton in July versus July last year. Month over month, listings grew about one per cent in Calgary, and nearly seven per cent in Edmonton. Despite declining demand in Edmonton, its MLS price index grew more than five percent year over year, though down about one percent month over month.

In Calgary, the price index declined about two percent in July compared with the same period last year, and was flat from June to July.

Courtesy the Calgary Herald

Building vs. Buying a home

Fri, 22 Aug 2025 15:58:00 GMT

Thinking of building vs. buying a home? There are many factors to consider, such as your timeframe, the location and design of the house. Let’s take a closer look at the pros and cons of each option.

Benefits of Building vs. Buying a Home

Customization

When you build a home from scratch, you choose everything from the location to the floor plan to the finishes. You move into the house of your dreams, tailored to your tastes and how you want to use the space. No need to plan updates or renovations; you get to enjoy your customized space right from the start!

Control Over Costs

Building vs buying a house gives you more flexibility over costs. You choose the materials at each step of the process, and you decide where to spend more money and where to cut back. For example, you can go all out on a chef’s kitchen if that’s key to your enjoyment of your home and leave the basement unfinished as a future project.

Energy Efficiency

Newer homes are more energy efficient. Modern builds keep homes comfortable and utility prices low with features like low-e windows, foam insulation, and high-efficiency HVAC systems. Note that you can get tax credits and rebates for some energy-efficient home features.

Environmental Advantages

If you build vs buy, you can choose materials that are free of toxins and sustainably sourced. This lowers the impact on the environment and ensures your home is a healthy living space. You can also install features like solar panels, tankless water heaters, and a greywater recycling system more easily when building vs buying a home.

Fewer Repairs

A new build won’t need repairs to major systems or appliances for quite a while. Fewer repairs means more money you can put toward your mortgage or spend on things like travel and entertainment.

Less Market Competition

Housing inventory in Canada is critically low, and competition among buyers is high. Building vs buying a house in Canada means you don’t have to worry about bidding wars or waiving contingencies to get the home of your dreams.

Downsides of Building vs Buying a Home

Longer Timeline

A new home can be bought in a matter of days; a build takes an average of seven months, but can be much longer. During that time, you will need to spend time on the planning, visit the build site repeatedly, and pay for housing elsewhere.

Unexpected Costs and Delays

Your contractor will provide you with an estimate, but unexpected expenses often arise, pushing budgets up. Delays are extremely common and can increase your timeline by weeks if not months.

More Time Consuming

Building a home from the ground up is a lot of work. You have to choose a contractor, negotiate terms, decide on the layout and design, and choose cabinetry, fixtures, and finishes. Homeowners also need to visit the build site regularly and be in constant communication with the contractor. Time is a major consideration in the build vs buy decision.

Less Negotiating Room

Beyond the original negotiation with your contractor, you won’t have room to negotiate the cost of the build itself.

That said, choosing materials and finishes yourself can save you a lot of money. Do your research, and you can find ways to keep expenses down. In the build vs buy debate, building is more work, but offers key opportunities to save.

Benefits of Buying a Home

More Predictable Costs

Buying a home is often less expensive than building one, but this depends on location and market conditions. As long as you have a home inspection and a thorough title search, you won’t have the unexpected costs that often arise with new builds.

Established Location

If you want to be in an established community, it is much easier to find a home for sale than it is to find vacant land you can build on. Established neighbourhoods also have mature trees, well-thought-out infrastructure, and nearby amenities like parks and schools.

Faster Move-In

Your timeline is a key factor in the build vs. buy decision. If you buy a home, you could close in as little as 30 days; if you build, it will take 6-9 months if everything goes to plan. With delays, it can take much longer.

Fewer Decisions and More Convenience

Building a house involves numerous decisions, from the location to the light switch plates. If you buy instead of building, all you have to worry about is the move itself. Although you may want to make changes to the space, you can do it at a more leisurely pace.

More Negotiating Room

When buying a home, you can negotiate for a lower price, closing costs, or necessary repairs. If you’re buying land and building vs buying a house, you can negotiate on the price of the land, but most other costs will be as per your contractor’s estimate or higher.

Disadvantages of Buying a Home

Limited Customization Options

With an existing home, there’s only so much you can change. Things like paint colours and trim aren’t difficult to match to your taste, but the layout of the home can’t be changed without major renovations. If there is a particular feature you are looking for in a home, this gets even more challenging.

House-Buying Stress

In a seller’s market, finding the right home at the right price can be time-consuming and stressful. You might face a bidding war, rejected offers, and placing bids on multiple houses in a serial fashion. Competition in low-inventory markets can also drive prices up, and you could spend more than you originally planned.

Maintenance Issues

Older homes will need repairs and upgrades sooner than a brand-new one will. If you buy a home built before 1970, it may also contain asbestos or lead paint, which will need to be dealt with immediately. Regardless of the type of home you purchase, getting a home inspection is always recommended.

Both building a home and buying one can be excellent options for prospective homeowners, and deciding which is best can feel challenging. By carefully considering each factor, you can feel confident in making the right choice for your budget and lifestyle. Contact us today to discuss building versus buying in Calgary and the surrounding areas. We would be happy to put our experience to work for you.

Supply growth weighs on home prices

Fri, 01 Aug 2025 18:53:55 GMT

Thanks to gains mostly occurring in the newer communities, inventory levels in July were 6,917 units, reaching levels not seen since prior to the pandemic and higher than long-term trends. While supply has improved across all property types and all districts, the largest gains are occurring in the areas where there has been new community growth.

The additional supply has weighed on home prices in some parts of the city. The total residential benchmark price in Calgary has trended down over the past several months and is currently four per cent below last year’s peak price reported in June 2024.

“Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years,” said Ann-Marie Lurie, Chief Economist at CREB®. “The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply.”

The rise in supply occurred as sales continued to slow and new listings improved. In July, there were 2,099 sales, a 12 per cent decline over last year, while new listings reached 3,911 units, an over eight per cent increase over last year. In addition to the persistent economic uncertainty due to tariffs, sales and new listings were impacted by no further reductions in lending rates and added competition from the new home market. Apartment-style homes are reporting the highest months of supply with over four months, while both detached and semi-detached homes are seeing conditions remain relatively balanced at just three months of supply.

Detached

For the first time since 2020, the months of supply for detached homes rose to three months. Sales activity slowed to 1,031 units in July, while the number of new listings, despite being slower than last month, was still nearly 10 per cent higher than last year’s levels and above long-term trends. The wider gap between sales and new listings led to a significant adjustment in inventory levels and, with slower sales, the months of supply rose to three months.

However, conditions did vary significantly depending on location. In the North West, West and South districts, the months of supply remained well below three months, whereas the North East reported the highest months of supply at over four months.

A shift to balanced conditions has taken much of the pressure off home prices. As of July, the detached benchmark price was $761,800, down less than one per cent over last year. However, there was a significant range of price adjustments. Both the North East and East districts have reported the largest decline in price at five per cent, though prices still rose in the City Centre by nearly two per cent.

Semi-Detached

Sales activity in July continued to slow, contributing to the year-to-date decline of 11 per cent. At the same time, new listings have generally been higher this year compared to last year, supporting inventory gains. With 549 units in inventory and 187 sales, the months of supply in July rose to three months, something that has not happened since 2021.

Although supply is improving in relation to sales, prices have remained relatively stable. As of July, the benchmark price in the city was $697,500, one per cent higher than last July. Price growth did range throughout each district, with the highest gains occurring in the City Centre, with nearly three per cent growth. Meanwhile, prices declined over last year in the North East, East and North districts.

Row

Like other styles of homes, sales have eased compared to last year, with new listings and inventories rising over last July. The months of supply in July was similar to last month at over three months, with a range of under three months of supply in the City Centre, North West , South and South East, to nearly five months of supply in the North East district.

Row prices have generally been trending down over the past three months, and while they are nearly four per cent lower than last year at this time, on a year-to-date basis they have remained similar to last year. When considering activity by district, year-to-date price declines have been reported in the North East and North, while prices have risen in all other districts.

Apartment Condominium

There were 1,014 new listings in July relative to 508 sales, keeping the sales-to-new listings ratio at 50 per cent and inventory levels elevated at 2,097 units. Higher inventories and slower sales caused the months of supply to push above four months in July, the highest it has been since 2021. Added competition for new product combined with rising rental vacancy rates has impacted the resale condominium market.

The additional supply choice is having a more significant impact on apartment style prices over any other property type. In July, the benchmark price was $329,600, which is down over one per cent compared to last month and nearly five per cent lower than levels reported last year. However, when considering year-to-date figures, prices have remained stable compared to last year as gains in the West, South and North West have offset declines occurring in the North East, North, South East and East districts.

REGIONAL MARKET FACTS

Airdrie

Due to declines in both row and apartment sales, July sales slowed by 14 per cent compared to last July, contributing to the year-to-date decline of 12 per cent. While sales have slowed, activity remains higher than levels reported prior to 2021. What has changed is the significant improvement in new listings, resulting in inventory gains. As of July, inventory levels rose to 543 units, the highest July reported since the peak in 2018. The higher inventory levels kept the months of supply above three months in July, placing some downward pressure on home prices. In July, the benchmark price was $532,800, nearly four per cent lower than levels reported last year at this time. However, last year’s gains were exceptionally high earlier in the year, and on a year-to-date basis prices are only slightly lower than last year.

Cochrane

Unlike other areas, Cochrane has not seen the same level of pullback in sales compared to long-term trends. While July sales were down by seven per cent, year-to-date sales are two per cent lower than last year and 23 per cent higher than long-term trends. New listings in July did reach a record high for the month, causing inventories to push to the highest level reported for the month since 2019 and causing the months of supply to rise above three months. While this likely contributed to some of the monthly decline in price, unlike other areas the July benchmark price of $590,000 was over two per cent higher than last year, and four per cent higher on a year-to-date basis.

Okotoks

This market continues to exhibit tighter market conditions than both Airdrie and Cochrane with a sales-to-new-listings ratio of 71 per cent and months of supply at just over two months. This is a significant improvement compared to the previous four years, where the months of supply in July was just over one month. In July, the benchmark price in the area was $628,500, slightly lower than last month, but higher than last year’s level. Despite some monthly fluctuations, year-to-date prices are over two per cent higher than last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Bank of Canada holds policy rate at 2¾%

Wed, 30 Jul 2025 21:35:00 GMT

The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

While some elements of US trade policy have started to become more concrete in recent weeks, trade negotiations are fluid, threats of new sectoral tariffs continue, and US trade actions remain unpredictable. Against this backdrop, the July Monetary Policy Report (MPR) does not present conventional base case projections for GDP growth and inflation in Canada and globally. Instead, it presents a current tariff scenario based on tariffs in place or agreed as of July 27, and two alternative scenarios—one with an escalation and another with a de-escalation of tariffs.

While US tariffs have created volatility in global trade, the global economy has been reasonably resilient. In the United States, the pace of growth moderated in the first half of 2025, but the labour market has remained solid. US CPI inflation ticked up in June with some evidence that tariffs are starting to be passed on to consumer prices. The euro area economy grew modestly in the first half of the year. In China, the decline in exports to the United States has been largely offset by an increase in exports to the rest of the world. Global oil prices are close to their levels in April despite some volatility. Global equity markets have risen, and corporate credit spreads have narrowed. Longer-term government bond yields have moved up. Canada’s exchange rate has appreciated against a broadly weaker US dollar.

The current tariff scenario has global growth slowing modestly to around 2½% by the end of 2025 before returning to around 3% over 2026 and 2027.

In Canada, US tariffs are disrupting trade but overall, the economy is showing some resilience so far. After robust growth in the first quarter of 2025 due to a pull-forward in exports to get ahead of tariffs, GDP likely declined by about 1.5% in the second quarter. This contraction is mostly due to a sharp reversal in exports following the pull-forward, as well as lower US demand for Canadian goods due to tariffs. Growth in business and household spending is being restrained by uncertainty. Labour market conditions have weakened in sectors affected by trade, but employment has held up in other parts of the economy. The unemployment rate has moved up gradually since the beginning of the year to 6.9% in June and wage growth has continued to ease. A number of economic indicators suggest excess supply in the economy has increased since January.

In the current tariff scenario, after contracting in the second quarter, GDP growth picks up to about 1% in the second half of this year as exports stabilize and household spending increases gradually. In this scenario, economic slack persists in 2026 and diminishes as growth picks up to close to 2% in 2027. In the de-escalation scenario, economic growth rebounds faster, while in the escalation scenario, the economy contracts through the rest of this year.

CPI inflation was 1.9% in June, up slightly from the previous month. Excluding taxes, inflation rose to 2.5% in June, up from around 2% in the second half of last year. This largely reflects an increase in non-energy goods prices. High shelter price inflation remains the main contributor to overall inflation, but it continues to ease. Based on a range of indicators, underlying inflation is assessed to be around 2½%.

In the current tariff scenario, total inflation stays close to 2% over the scenario horizon as the upward and downward pressures on inflation roughly offset. There are risks around this inflation scenario. As the alternative scenarios illustrate, lower tariffs would reduce the direct upward pressure on inflation and higher tariffs would increase it. In addition, many businesses are reporting costs related to sourcing new suppliers and developing new markets. These costs could add upward pressure to consumer prices.

With still high uncertainty, the Canadian economy showing some resilience, and ongoing pressures on underlying inflation, Governing Council decided to hold the policy interest rate unchanged. We will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs related to tariffs and the reconfiguration of trade. If a weakening economy puts further downward pressure on inflation and the upward price pressures from the trade disruptions are contained, there may be a need for a reduction in the policy interest rate.

Governing Council is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases from tariffs and trade disruptions are passed on to consumer prices; and how inflation expectations evolve.

We are focused on ensuring that Canadians continue to have confidence in price stability through this period of global upheaval. We will support economic growth while ensuring inflation remains well controlled.

Information note

The next scheduled date for announcing the overnight rate target is September 17, 2025.

Courtesy The Bank of Canada

How to Choose the Best Neighbourhood to Buy a Home

Wed, 16 Jul 2025 00:46:00 GMT

There are many things you can change about a home. Need more space? Is the kitchen outdated? Does the place “need work?” These can all be fixed with a renovation. One thing you can’t change, is the location. That’s why it’s so important to do your research and choose a location that not only fits your needs now, but in the future as well. In this article, we’ll guide you through five steps to help you choose the best location to buy a home.

Choosing the Best Location to Buy a Home

When shopping for a home, it can be easy to get blinded by the dazzle of a home’s features, like a brand-new kitchen or the pool in the backyard. However, it is critical to take time to think about where you would like to live, before you can dive deeper into the type of home you would like to live in.

According to a new survey by REMAX Canada, four in five Canadians said they would recommend their neighbourhood as a great place to live. That tells us that this is on Canadians’ radar, and they’ve done their research.

Furthermore, three-quarters of Canadians said they have made compromises to live where they do—highlighting an important reality that, sometimes, compromises have to be made to attain some of the must-haves on your list or criteria. With that said, 57 per cent of Canadians said despite their compromises, they love their neighbourhoods and agree that their lifestyle aligns with the neighbourhood they live in.

Let’s explore some lifestyle factors and how they may influence your choice of location.

Step 1: Urban versus Suburban

There are pros and cons to living in both, but one important factor is the cost of living in each location. If you prefer to live in the city, look at all your options to see what your budget will get you in the city, versus what it will get you in the suburbs. After weighing both options, the question remains, urban or suburban?

Step 2: Explore the Neighbourhood

Depending on if you are a young professional, are raising a young family, or are downsizing, you are likely looking for a likeminded community and neighbourhood where you will fit in. While conducting online research is a great place to start, nothing is better than first hand experience. These tips will help you choose the perfect neighbourhood.

Access more information about Calgary Northwest neighbourhoods here: https://vianigroup.com/calgary_northwest_communities.html

Access more information about Calgary Northeast neighbourhoods here: https://vianigroup.com/calgary_northeast_communities.html

Access more information about Calgary Southwest neighbourhoods here: https://vianigroup.com/calgary_southwest_communities.html

Access more information about Calgary Southeast neighbourhoods here: https://vianigroup.com/calgary_southeast_communities.html

Step 3: Research Proximity to Work and School

Commute times have gotten longer in Canada’s biggest cities, and the time spent getting to and from work is a deciding factor for many, when choosing where to work. Well, the same applies when choosing where to live. When choosing the best neighbourhood to buy a home, take some time to research the proximity to work, schools and other places you frequent on a regular basis. With that being said, jobs can come and go for a variety of reasons, so while the location of your workplace should factor into your decision on the best neighbourhood to buy a home, it shouldn’t be the only factor.

Step 4: Think About Family & Friends

Finding the right location means considering the distance to family and friends, and how long it will take you to get to them. If a change in location will mean you are further away from the people closest to you, you should consider if it is still the right option for you.

Step 5: Look Into Crime Rates

One of the main reasons your house feels like home is because as soon as you walk through the door, you feel safe. Getting a good understanding of what happens in the neighbourhood you are considering moving to can easily be done by conducting research on the crime rates in that area, compared to the other areas you are considering.

Although you may just be starting your home search, researching locations is one of the most important first steps. Your REMAX agent is a great resource for information on the many neighbourhoods within your city. Once you’ve decided on a general area, you can zero in and start the search for your new home!

Step 6: Contact us

Be in touch with us to help you with your next purchase.

www.vianigroup.com

Gains in resale supply mostly impact apartment and row style home prices

Thu, 03 Jul 2025 15:00:00 GMT

Inventory levels in June continued to rise, both over last month’s and last year’s levels. By the end of the month, inventory reached 6,941 units, returning to levels reported in 2021, or prior to the surge in population growth. While sales have remained consistent with long-term trends despite a decline from recent months, higher levels of new listings compared to sales have contributed to the inventory gain.

All property types have reported gains in inventory, but both row and apartment style homes reported inventory levels over 30 percent higher than long-term trends, while supply for detached and semi-detached units are only slightly higher than typical levels.

“Supply has improved across rental, resale and new home markets, allowing for more choice for those considering their housing options,” said Ann-Marie Lurie, Chief Economist at CREB®. “The additional choice combined with no further declines in lending rates, persistent uncertainty and concerns of price adjustments is keeping many potential purchasers on the sidelines. This is weighing on home prices, especially for apartment and row-style homes.”

The unadjusted benchmark price was $586,200 in June, lower than last month and over three per cent lower than last year. Much of the citywide decline was driven by apartment and row-style homes, which are over three per cent lower than last year. Meanwhile, detached prices have remained relatively stable and semi-detached homes are still slightly higher than last year.

The steeper price declines for apartment and row style homes are reflective of those segments shifting toward a market that favours the buyer with nearly four months of supply. Meanwhile conditions are relatively balanced for detached and semi-detached homes. Overall conditions in Calgary have changed, but not enough to erase the significant growth in prices that have occurred over the past four years.

Detached

Sales in June were 1,194 units, six per cent lower than both last year and last month's activity. Sales activity did vary depending on location and price range, with declines in resale sales mostly for higher priced homes that likely face more competition from new homes. On a location basis, the steepest declines in sales occurred in the City Centre and the North East at over 20 per cent, while year-over-year gains were reported in the West, and South East districts.

While sales did vary, inventories and new listings improved across most price ranges and districts in the city. However, it is only the North East district that is experiencing conditions that favour the buyer, causing prices to decline by four per cent compared to last June. As of June, the unadjusted benchmark price in Calgary was $764,300, less than one per cent lower than both last month and last year’s price.

Semi-Detached

Sales activity continued to slow this month, contributing to the year-to-date decline of nearly 12 per cent. At the same time new listings have generally been rising compared to last year, supporting inventory gains and a shift to balanced conditions. As of June, the months of supply was 2.6 months, a significant improvement over the tight conditions reported last year.

Additional supply choice has slowed the pace of price growth for semi-detached homes. As of June, the benchmark price in the city was $696,400, similar to last month, and over one per cent higher than last June. Price movements did range by district, as homes in the City Centre are over three per cent higher than last year and at record high levels, while prices in the North, North East, and East districts are all over two per cent lower than last year and three per cent lower than last year’s peak price.

Row

New listings continue to rise relative to the number of sales in the market, as the sales-to-new listings ratio in June dropped to 50 percent. This contributed to further inventory gains with 1,167 units available at the end of the month. While sales are still higher than long-term trends, the recent gains in inventory levels have caused the months of supply to push above three months. Within the city, conditions range with nearly six months of supply in the North East and two and a half months of supply in the North West.

Higher supply levels relative to demand are weighing on prices which, at a June benchmark price of $450,300, are down over last month and three per cent lower than last year’s levels. However, as the level of oversupply does range across the districts, so too do the price movements. The City Centre has seen the most stability in prices this month and is only one per cent below last year’s peak. Meanwhile, the North East is reporting year-over-year price declines of nearly six per cent.

Apartment Condominium

June new listings and sales both eased over last month’s and last year’s levels. However, with 1,024 new listings and 532 sales, inventories continued to rise and the months of supply pushed up to nearly four months. Slower international migration numbers are weighing on housing demand just as supply levels are rising, which is having a larger impact on apartment style homes.

The rising supply choice, both in new and resale markets, has caused resale prices to trend down again this month, leaving June’s benchmark price of $333,500 over three per cent lower than last year’s levels. While prices have eased across all districts in the city, the largest year-over-year declines are occurring in the North East, North and South East districts.

REGIONAL MARKET FACTS

Airdrie

Thanks to a sharp decline in detached activity, sales in June fell to 164 units. The pullback in sales was met with 324 new listings, causing the sales-to-new listings ratio to drop to 51 per cent, the lowest ratio reported in June since 2018. The wider spread between sales and new listings drove further inventory gains and for the first time since 2020 the months of supply was above three months. The additional supply choice has weighed on resale prices, which have trended down for the second consecutive month. In June the benchmark price was $538,300, nearly three per cent lower than levels seen last year at this time.

Cochrane

Gains for detached and semi-detached sales were offset by pullbacks for row and apartment units, as June sales remained relatively unchanged over last year. The 101 sales in June were met with 171 new listings and the sales-to-new listings ratio rose to 59 per cent. This slowed the pace of inventory growth, keeping the months of supply just below three months. While conditions are more balanced than they have been, prices in the area continue to rise albeit at a slower pace. As of June, the unadjusted benchmark price was $593,700, nearly one per cent higher than last month and four per cent higher than last June.

Okotoks

While levels are better than last year, both sales and new listings trended down in June, causing the sales-to-new listings ratio to rise to 87 per cent. This prevented any further monthly inventory gains and ensured that the months of supply remained below two months in June. While conditions remain tight in Okotoks, more supply in the broader region has likely prevented stronger price growth in the Town of Okotoks. As of June, the unadjusted benchmark price was $632,800, similar to last month and nearly three per cent higher than last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

TD predicts housing market pickup starting late 2025

Sat, 28 Jun 2025 22:34:00 GMT

Canada’s housing market may see a mild rebound in the second half of 2025, according to a report released Wednesday by TD Economics.

The report, written by economist Rishi Sondhi, says home sales are expected to pick up after a slow start to the year. National home sales rose four per cent in May, following a small increase in April, suggesting some demand is returning.

“Uncertainty remains elevated, and job markets are deteriorating,” the report says. “Even if sales levels improve, they are likely to remain subdued, particularly in B.C. and Ontario.”

TD has slightly raised its forecast for average home prices in the second half of the year, but only in areas outside British Columbia and Ontario. Stronger sales and tighter supply in those regions, especially the Prairies, are expected to support prices.

Outlook varies by region

In B.C. and Ontario, prices are expected to fall. The report says there are too many homes for sale compared to the number of buyers in those provinces.

However, Ontario could still see a small bump in average prices if more expensive homes make up a larger share of sales. The report points to weak demand for cheaper condos in the Greater Toronto Area, especially among investors.

Looking ahead to 2026, TD expects both home sales and prices to grow more strongly, thanks to a better economy and lower borrowing costs. But high prices in places like B.C. and Ontario, along with slower population growth, are likely to limit how much the market can bounce back.

The report says the federal government’s housing plan could help by boosting supply, but not right away.

“We wouldn’t expect a material boost to housing completions until perhaps late next year,” it says.

TD says any major improvement in housing affordability will take time and will depend on building more homes across the country.

Courtesy REM

𝟮𝟱 𝗬𝗲𝗮𝗿𝘀 𝗼𝗳 𝗥𝗲𝗮𝗹 𝗘𝘀𝘁𝗮𝘁𝗲 | 𝗚𝗿𝗮𝘁𝗲𝗳𝘂𝗹, 𝗛𝗼𝗻𝗼𝘂𝗿𝗲𝗱, 𝗮𝗻𝗱 𝗦𝘁𝗶𝗹𝗹 𝗟𝗼𝘃𝗶𝗻𝗴 𝗘𝘃𝗲𝗿𝘆 𝗠𝗼𝗺𝗲𝗻𝘁

Mon, 16 Jun 2025 14:50:23 GMT

I am incredibly honoured to share that I have received the 25-Year Long Service Award from the Calgary Real Estate Board. It is a milestone that feels both humbling and rewarding. They say that if you love what you do, you will never work a day in your life, and that sentiment could not ring more true for me.

Over the past two and a half decades, I have had the privilege of helping hundreds of clients through one of life’s biggest transitions: buying or selling a home. There is no moment more gratifying than seeing a homeowner thrilled at the firm sale of their property, or watching a buyer receive the keys to their new home, eyes lit up with excitement and possibility. These are the moments that never get old.

Real estate is not just about contracts and keys; it is about people, relationships, and trust. I truly believe that I bring value to each transaction, and after 25 years in this business, I can confidently say that experience matters. Each negotiation, each market shift, and each unique client story has contributed to the depth of insight and perspective I bring to the table today.

This milestone is not mine alone. I am so fortunate to work alongside a phenomenal team, the Viani Real Estate Group, whose commitment, professionalism, and shared passion make every day in this business better. Most importantly, I want to thank my wife and kids. Their unwavering support, patience, and love have been the foundation that has allowed me to pursue this career with heart and purpose.

To my clients, colleagues, family, and friends, thank you. Thank you for the trust, the conversations, the challenges, and the celebrations. Here is to the next chapter, because I am just as excited about the future as I was when I started.

Thank you

Joe Viani

Getting Multiple Mortgage Quotes

Thu, 12 Jun 2025 22:24:00 GMT

If you’re like most Canadians shopping for a home loan, you might be tempted to accept the first mortgage rate offer that comes your way. After all, the mortgage process can feel overwhelming, and the idea of settling quickly is appealing. But here’s something you should know: accepting the first mortgage quote you receive could cost you thousands of dollars over the life of your loan.

Getting mortgage loan quotes doesn’t need to be complicated or time-consuming. With today’s technology, you can request and receive mortgage quotes from several lenders within hours. Contrary to what you might have heard, shopping around for mortgage quotes won’t destroy your credit score if you do it the right way.

Why You Should Get Multiple Mortgage Quotes

The numbers tell a compelling story about why shopping around for mortgage quotes is so important for Canadians. According to a Bank of Canada study, many Canadians display what researchers call “brand loyalty” to their primary banking institution—and this loyalty comes at a huge cost.

The study revealed that Canadians who stick with their home bank without exploring other options miss out on potential savings between $759 and $1,617. Considering that these savings recur annually throughout your mortgage term, that could mean leaving up to $8,000 on the table over a standard 5-year term. Extend that to the full amortization period of a typical Canadian mortgage, and you could be looking at tens of thousands in unnecessary interest payments.

The difference between mortgage lender quotes can seem small at first glance—perhaps just 0.25 percent or 0.5 percent in interest rate—but these small differences have outsized impacts on your financial future. For example, on a $500,000 mortgage with a 25-year amortization, a rate difference of just 0.25 percent could save you approximately $60 per month or $720 per year. Over the full mortgage term, that adds up to $18,000 in savings!

Another benefit of gathering multiple mortgage lender quotes is the negotiating power it gives you. When you approach your preferred lender with competitive quotes from other institutions, you’re in a much stronger position to ask for better terms. Many lenders have rate-matching policies or flexibility that they only exercise when they know you’re considering their competitors.

Remember, mortgage lenders are competing for your business in a crowded marketplace. By getting multiple mortgage loan quotes, you’re simply participating in the competitive process that the mortgage market is designed for.

Does Getting a Mortgage Quote Hurt Your Credit?

When you apply for a mortgage quote, the mortgage lender typically performs a credit check to assess your financial situation. There are two types of credit checks: soft inquiries and hard inquiries. A soft inquiry doesn’t affect your credit score and often occurs when you check your own credit or when a lender pre-screens you for offers. A hard inquiry, however, does appear on your credit report and can temporarily lower your score by a few points.

Canadian credit bureaus (Equifax and TransUnion) understand the concept of “rate shopping” and have built their scoring models accordingly. When you’re looking for a mortgage, multiple hard inquiries for the same type of loan within a short timeframe are generally treated as a single inquiry for credit scoring purposes.

In Canada, this rate-shopping window typically ranges from 14 to 45 days, depending on which credit scoring model is used. This means you can collect mortgage quotes from multiple lenders within this period without each inquiry causing additional damage to your credit score.

For example, if you apply for mortgage quotes from five different lenders within a two-week period, the credit scoring systems will recognize that you’re rate shopping and count those five inquiries as just one for credit score calculation purposes. This means you can gather multiple mortgage loan quotes without worrying about credit score impacts.

Where to Get Mortgage Quotes in Canada

When searching for the best mortgage quote in Canada, you have several options to consider:

The Big Five Banks – Canada’s major banks (RBC, TD, Scotiabank, BMO, and CIBC) often provide relationship discounts for existing customers. Their widespread branch networks make in-person consultations easy, though their rates may not always be the most competitive.

Credit Unions – These member-owned financial cooperatives frequently offer competitive mortgage quotes and more flexible lending criteria than traditional banks. They tend to focus on serving local communities and may have special programs for first-time homebuyers.

Mortgage Brokers – These professionals work with multiple lenders and can search dozens of mortgage options on your behalf at no cost to you. A good mortgage broker saves you time by gathering multiple mortgage loan quotes based on your financial situation.

Monoline Lenders – These specialized mortgage companies (like First National, MCAP, or RMG) focus exclusively on mortgages without offering other banking services. They often provide highly competitive rates since mortgages are their primary business.

Online Mortgage Lenders – Digital-first lenders like Tangerine and Equitable Bank offer streamlined application processes and sometimes feature lower rates due to their reduced overhead costs. Their online platforms make it easy to submit applications and track your progress.

Mortgage Comparison Websites – Sites like Ratehub and WOWA allow you to compare rates from multiple lenders in one convenient location. These platforms can provide a quick overview of current market offerings without multiple applications. <- Not sure if RE/MAX will want this included.

Ready to start your homebuying journey on the right financial footing? Contact a memeber of the VIani Real Estate Group to discuss your housing goals and get recommendations for mortgage lenders in your area

Clouds may be lifting from Canada’s housing market: Hogue

Thu, 12 Jun 2025 05:15:26 GMT

Canada’s housing market is showing faint signs of revival, according to a new report from RBC assistant chief economist Robert Hogue.

Data from local real estate boards indicates that sales activity ticked upward in May across several cities where sales previously pulled back, hinting at a recovery in a sector rattled by a trade war and lingering economic uncertainty.

This was the case for Toronto, Ottawa, Calgary, Edmonton, Fraser Valley, Saskatoon and Regina where the number of transactions partially rebounded from significant declines earlier this year.

“The de-escalation of tariffs has taken centre stage since May, alleviating some of the worst fears about the potential economic fallout even though recent doubling of steel and aluminum tariffs increases risks in some communities,” said Hogue. “We expect to get a clearer view in the coming months.”

Different stories across the country

Markets in southern Ontario and parts of British Columbia, the country’s least affordable areas, remain especially soft, Hogue notes. Activity in many of them is close to cyclical lows and will take time to rebound to more robust levels.

These markets are also where prices are under the most downward pressure. The MLS Home Price Index fell again in several markets in May from April, including the Toronto region, Hamilton, Kitchener-Waterloo, Cambridge, Vancouver and Fraser Valley.

Trends in other parts of the country are relatively sturdier. Prairie markets such as Edmonton, Saskatoon, Regina, and some in Quebec, including Quebec City, and the Atlantic region like St. John’s have held up so far, “albeit they are not entirely unscathed from trade-induced anxiety,” said Hogue.

Toronto: A hesitant uptick

Toronto appears to be regaining its footing. Home resales rose 8.4 per cent in May over April on a seasonally adjusted basis, marking a second straight monthly increase. While the volume remains well below pre-pandemic highs, the upward trend suggests that sentiment is shifting.

Buyers continue to enjoy leverage. Inventory is at its highest in decades, putting pressure on sellers. Home prices remain under stress, with the MLS Home Price Index down 4.5 per cent from May 2024, even as it ticked up slightly month-over-month.

Montreal: Resilience amid uncertainty

Montreal has been steadier in the face of economic turbulence. Resale activity slipped just 2 per cent between April and May, and remains at what Hogue calls “solid pre-pandemic levels.” A reasonably balanced market has kept upward pressure on prices.

Single-family homes saw an 8.6 per cent year-over-year price increase in May, with condos rising 4.3 per cent. That pace is expected to moderate as more sellers enter the market, said Hogue.

Vancouver: Slowdown persists

Resales dropped again in May, marking six straight months of decline, while inventory swelled to a 12-year high, fueled by an influx of unsold condo completions.

The result: falling prices. The city’s MLS HPI was down 2.9 per cent from a year ago in May, and downward momentum is expected to continue in the near term.

Calgary: Defying the trend

Calgary stands out for its resilience. May resale activity jumped more than 8 per cent following three months of declines. A fast-growing population and strong job growth – three times the national average – continue to drive demand.

While the city’s HPI dipped 2.5 per cent year-over-year, new construction has helped keep prices in check without deterring buyers.

Coutrest Real Estate Magazine

Price adjustments mostly driven by apartment and row style homes

Mon, 09 Jun 2025 15:03:46 GMT

Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 per cent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 per cent higher than long-term trends for May and improved over last month.

New listings continued to rise this month compared to sales, resulting in further gains in inventory levels. However, the monthly gain in both inventory and sales prevented any significant change in the months of supply compared to April. With 2.6 months of supply, conditions are still relatively balanced.

“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”

Last year there was limited inventory across most property types and price ranges. Recent inventory gains are creating pockets of the market that are struggling with too much supply while in other areas supply levels are still low relative to the demand, resulting in divergent trends in home prices.

Both detached and semi-detached home prices have remained relatively stable this month and are still higher than last year’s levels. Meanwhile, row and apartment style homes have reported modest monthly price declines and May prices remain below last year’s levels, as improved new home and rental supply is weighing on resale prices. Overall, the total residential unadjusted benchmark price in Calgary was $589,900, slightly lower than last month and over two per cent below May 2024 levels.

Detached

New listings in May rose to 2,419 units, with most of the gains driven by homes priced over $600,000. At the same time, sales activity has slowed across most price ranges, supporting a shift toward more balanced conditions and relative stability in prices. However, districts that are facing more competition from new home product or are seeing a larger pullback in demand are starting to show some signs of elevated supply.

The North East district has seen the largest pullback in resale sales activity combined with some of the highest gains in new listings. This has driven the sales-to-new listings ratio down to 41 per cent and the months of supply was nearly four months in May. This is causing prices to ease in the North East, offsetting some of the gains reported in the City Centre, West, and North West districts. City-wide the unadjusted benchmark price in May was $769,400, similar to last month, one percent higher than last May, and still above last year’s seasonal peak price.

Semi-Detached

The 428 new listings in May were met with 256 sales, causing the sales-to-new-listings ratio to rise to 60 per cent this month. This slowed the pace of inventory growth and the months of supply remained just above two months. Semi-detached homes continue to remain less than 10 per cent of all sales and inventory levels in the city.

This in part is due to construction patterns shifting toward more row style properties over semi-detached, and is one of the reasons we do not see the same inventory build as row and apartment style homes.

Like the detached market there is significant variation within the city districts. The North East has the highest months of supply at nearly three months and is reporting some price declines, while the tightest conditions are in the North West, where prices continue to rise. Overall, generally tighter conditions are still supporting price gains for semi-detached properties. In April the unadjusted benchmark price was $697,300, a monthly gain of less than one per cent, nearly three per cent higher than last year’s levels and above last year’s seasonal peak.

Row

Row home sales have eased over last year’s near record high pace but stayed well above long-term trends. However, the gain in new listings has continued to cause further inventory gains. For the second month in a row, inventory levels were over 1,000 units; we have not seen this much inventory for row units since 2021.

While inventory levels have improved across all districts, we are starting to see higher months of supply in the North East district at 3.5 months, resulting in some downward pressure on prices. The North, North West and South areas have also reported higher year-over-year pullbacks in resale prices, as improved supply choice for new properties are impacting resale activity. Overall, the benchmark price in May was $453,600, down over last month, nearly two per cent below last May, and lower than last year’s seasonal high.

Apartment Condominium

Sales this month totaled 579 units, a significant decline over last May’s record high of 907 units. While new listings were lower than levels reported last year, they remained high compared to sales, causing the sales-to-new listings ratio to drop to 47% this month. This contributed to further inventory gains and drove the months of supply up to 3.6 months.

High levels of apartment rental units under construction are adding to the rental supply and contributing to rent adjustments. This is likely slowing condo ownership demand coming from existing renters and potential investors, contributing to some of the shifts witnessed in the apartment condominium sector.

More supply choice is also weighing on condominium prices. In May the benchmark price eased to $335,300, down from last month and over one per cent lower than last year. The steepest declines are occurring in the North East and South East districts, where competition from the new home market is weighing on resale pricing. While prices have eased and are below peak levels, recent declines have not offset the double-digit gains reported over the past two years.

REGIONAL MARKET FACTS

Airdrie

While improving over last month, May sales eased compared to last year, contributing to the year-to-date decline of 10 per cent. However, the 772 sales so far this year are consistent with long-term trends in Airdrie. At the same time new listings continue to rise causing the sales-to-new listings ratio to fall to 58 per cent, still well within balanced conditions, but a significant change from the over 90 per cent ratio reported last year. Recent shifts in sales and new listings have supported gains in inventory levels.

In May there were 468 units in inventory, reflecting the highest May reported since prior to the pandemic. The shift in supply is in part related to the surge in new construction providing more options for potential consumers. Additional supply choice is impacting price growth. The total residential benchmark price was $540,600 in May, down nearly one per cent over last month and nearly two per cent below last year’s levels.

Cochrane

Sales in Cochrane were fairly resilient until this month, where sales were 17 per cent slower than last year. The decline was enough to cause year-to-date sales to ease to levels just below those reported last year. At the same time, this month new listings surged, driving the sales-to-new listings ratio down to 55 per cent and supporting further inventory gains. With 293 units available in May, levels are more consistent with long-term trends. The months of supply neared three months in May and while this did slow the pace of price growth, the total residential benchmark price of $589,400 is still nearly four per cent higher than last May.

Okotoks

A boost in new listings this month supported a surge in sales activity. However, with a sales-to-new-listings ratio of 74%, inventory levels did not change much over last month and the months of supply once again dropped below two months. Okotoks has struggled to add supply at the pace reported in Calgary, Cochrane and Airdrie and sales growth has been dampened by limited supply choice.

While there have been some improvements in inventory levels, as of May levels remained nearly 28 per cent below long-term trends for the city. The limited supply choice given the relatively strong demand has continue to support some price growth in the town. As of May the unadjusted benchmark price was $633,900, up over last month and over two per cent higher than last year.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Interest Rate Announcement: Bank of Canada Holds Steady Again

Fri, 06 Jun 2025 05:10:00 GMT

Benchmark Rate holds steady at 2.75%

The Bank of Canada has kept its overnight interest rate target at 2.75 per cent. It is the second straight meeting the Bank has kept rates on hold after a string of decreases amounting to 225 basis points over the last nine months. It is a guarded step amidst ongoing economic uncertainties, notably those relating to U.S. trade policies. The Bank subsequently stated that “bilateral trade negotiations have been initiated with several countries; but the result of such negotiations is extremely uncertain.”

“In Canada, economic growth in the first quarter came in at 2.2%, slightly stronger than the Bank had forecast, while the composition of GDP growth was largely as expected. The pull-forward of exports to the United States and inventory accumulation boosted activity, with final domestic demand roughly flat. Strong spending on machinery and equipment held up growth in business investment by more than expected,” according to the Bank’s announcement. “Housing activity was down, driven by a sharp contraction in resales.”

Stable interest rates can provide some comfort to sellers and buyers moving into summer, but persistent economic uncertainty, especially on the trade front, can still put a damper on consumer confidence and housing activity in the coming months.

Bank of Canada’s 2025 Policy Interest Rate Announcement Schedule

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2025 is as follows:

Wednesday, January 29
Wednesday, March 12
Wednesday, April 16
Wednesday, June 4
Wednesday, July 30
Wednesday, September 17
Wednesday, October 29
Wednesday, December 10

Read the full interest rate announcement below:

The Bank of Canada today maintained its target for the overnight rate at 2.75%, with the Bank Rate at 3% and the deposit rate at 2.70%.

Since the April Monetary Policy Report, the US administration has continued to increase and decrease various tariffs. China and the United States have stepped back from extremely high tariffs and bilateral trade negotiations have begun with a number of countries. However, the outcomes of these negotiations are highly uncertain, tariff rates are well above their levels at the beginning of 2025, and new trade actions are still being threatened. Uncertainty remains high.

While the global economy has shown resilience in recent months, this partly reflects a temporary surge in activity to get ahead of tariffs. In the United States, domestic demand remained relatively strong but higher imports pulled down first-quarter GDP. US inflation has ticked down but remains above 2%, with the price effects of tariffs still to come. In Europe, economic growth has been supported by exports, while defence spending is set to increase. China’s economy has slowed as the effects of past fiscal support fade. More recently, high tariffs have begun to curtail Chinese exports to the US. Since the financial market turmoil in April, risk assets have largely recovered and volatility has diminished, although markets remain sensitive to US policy announcements. Oil prices have fluctuated but remain close to their levels at the time of the April MPR.

In Canada, economic growth in the first quarter came in at 2.2%, slightly stronger than the Bank had forecast, while the composition of GDP growth was largely as expected. The pull-forward of exports to the United States and inventory accumulation boosted activity, with final domestic demand roughly flat. Strong spending on machinery and equipment held up growth in business investment by more than expected. Consumption slowed from its very strong fourth-quarter pace, but continued to grow despite a large drop in consumer confidence. Housing activity was down, driven by a sharp contraction in resales. Government spending also declined. The labour market has weakened, particularly in trade-intensive sectors, and unemployment has risen to 6.9%. The economy is expected to be considerably weaker in the second quarter, with the strength in exports and inventories reversing and final domestic demand remaining subdued.

CPI inflation eased to 1.7% in April, as the elimination of the federal consumer carbon tax reduced inflation by 0.6 percentage points. Excluding taxes, inflation rose 2.3% in April, slightly stronger than the Bank had expected. The Bank’s preferred measures of core inflation, as well as other measures of underlying inflation, moved up. Recent surveys indicate that households continue to expect that tariffs will raise prices and many businesses say they intend to pass on the costs of higher tariffs. The Bank will be watching all these indicators closely to gauge how inflationary pressures are evolving.

With uncertainty about US tariffs still high, the Canadian economy softer but not sharply weaker, and some unexpected firmness in recent inflation data, Governing Council decided to hold the policy rate as we gain more information on US trade policy and its impacts. We will continue to assess the timing and strength of both the downward pressures on inflation from a weaker economy and the upward pressures on inflation from higher costs.

Governing Council is proceeding carefully, with particular attention to the risks and uncertainties facing the Canadian economy. These include: the extent to which higher US tariffs reduce demand for Canadian exports; how much this spills over into business investment, employment and household spending; how much and how quickly cost increases are passed on to consumer prices; and how inflation expectations evolve.

Courtesy REMAX LLC

Exciting News | A New Chapter for the Viani Real Estate Group

Mon, 02 Jun 2025 15:15:00 GMT

The Viani Real Estate Group is thrilled to share that we have officially joined REMAX Innovations!

This move marks an exciting new chapter. REMAX Innovations is a dynamic, forward-thinking brokerage offering enhanced resources, cutting-edge tools, and a collaborative environment, all of which help us serve you better.

In addition to joining this exceptional brokerage, the group has also moved into our own newly renovated office on Centre Street North! This fresh, professional space gives us a central, welcoming location where we can meet with you, plan your real estate goals, and showcase the systems and strategies we used to help our clients succeed.

While our office and brokerage are new, our dedication to you remains stronger than ever. We are proud to continue representing the REMAX brand, the most recognized name in real estate worldwide, and to deliver the high level of service, expertise, and results you have come to expect from us.

Whether you are thinking of buying, selling, investing, or just exploring options, I am here to help and always grateful for your referrals. These exciting changes mean more value, insight, and support for your real estate journey.

We can not wait to welcome you to our new space and show you all the exciting things we have been working on.

Thank you for your continued trust and support.

Viani Real Estate Group

REMAX Innovations

www.vianigroup.com

Balanced conditions take pressure off prices

Thu, 01 May 2025 18:26:39 GMT

A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year’s supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units—22 percent below last year’s levels but in line with long-term trends

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions.

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. However, compared to last year, detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.

Detached

Detached sales were 1,102 units in April, a year-over-year decline of 16 per cent. While sales eased across most areas of the city, the South East district has seen sales rise over last year's levels. April saw 1,907 new listings come onto the market, and the sales-to-new-listings ratio remained balanced at 58 per cent. Inventories rose to 2,511 units, and the months of supply rose to 2.3 months. While this is a significant gain over the less than one month of supply reported last year at this time, conditions remain relatively tight, especially in the lower price ranges.

In April, the unadjusted benchmark price reached $769,300, similar to last month but over two per cent higher than last April. The added supply choice, combined with uncertainty, has slowed the pace of price growth. However, with a year-over-year gain of nearly five per cent, the City Centre has exhibited stronger price growth than any other district.

Semi-Detached

Easing sales in April contributed to the year-to-date decline of nearly 16 per cent. The 190 sales in April were met with 350 new listings, and the sales-to-new-listings ratio fell to 54 per cent. This also caused further gains in inventory levels, which reached 484 units. The rise in inventory did help push the market toward balanced conditions with 2.6 months of supply, a significant improvement over the less than one month reported at this time last year.

The shift toward more balanced conditions has slowed the pace of price growth. In April, the unadjusted benchmark price was $691,700, similar to last month and over three per cent higher than last year. The City Centre reported the largest gain, at over five per cent, while prices in the North remained stable compared to last year.

Row

April sales slowed for row homes, contributing to the year-to-date decline of 16 per cent. Meanwhile, new listings continued to rise compared to last year, driving the sales-to-new-listings down to 51 per cent. In April, inventories reached 1,005 units, the highest level reported since 2021, and the months of supply rose to nearly three months. Improved supply has taken some of the pressure off prices,

In April, the unadjusted row price was $457,400, a slight gain over last month, but relatively unchanged compared to April of last year and still below last year's peak price reported in June. The pullbacks reported in the North and Northeast districts offset year-over-year gains in most districts.

Apartment Condominium

April sales eased by nearly 30 per cent over last year's record high but were far stronger than long-term trends. While sales have remained relatively strong, new listings in April reached a record high for the month, supporting further gains in inventory levels. With three months of supply in the city, conditions are considered relatively balanced. However, activity does range significantly based on location, impacting price movements.

The North East district reported the highest months of supply at seven months, resulting in a year-over-year price decline of two per cent and a spread of over seven per cent from last year's high. Overall, the April benchmark price in the city was $336,000, similar to last year but still three per cent lower than last year's record high.

REGIONAL MARKET FACTS

Airdrie

For the third month in a row, sales activity eased compared to last year's levels. Despite the declines, sales remain above long-term trends. At the same time, new listings continue to rise, but with 185 sales and 290 new listings in April, the sales-to-new listings ratio reached 64 percent, an improvement over recent months. Inventory levels continued to trend up this month. However, after three consecutive years of exceptionally low April levels, inventory is now consistent with long-term trends. With 2.3 months of supply, conditions are moving to a more balanced state, taking the pressure off home prices. In April, the total residential price was $544,700, relatively unchanged compared to both last month and last year's levels.

Cochrane

For the fourth month in a row, sales activity in the area has remained consistent with last year's levels, resulting in 335 sales so far this year, a nearly five per cent gain over last year and consistent with long-term trends. New listings have also been on the rise, but the sales-to-new-listings ratio has remained at 60 per cent, preventing the doubling of inventory in this market. While inventory levels have improved compared to last year, the 246 units available in April are just shy of long-term trends. Like other areas, improvements in supply have slowed the pace of price growth, but in Cochrane, prices are still edging up. In April, the total residential benchmark price was $592,000, trending up over last month and nearly six per cent higher than prices reported in the previous year and at a record high.

Okotoks

Sales in Okotoks continue to ease compared to last year, contributing to the year-to-date decline of 16 per cent. Over the past few years, sales have been restricted by a lack of supply. However, this year we have started to see a shift. New listings continue to improve in April compared to sales, causing the sales-to-new-listings ratio to ease to 53 per cent, supporting inventory gains. However, with 127 units in inventory in April, levels remain below long-term trends for the month. The modest gains in inventory have slowed the pace of price growth in the area. As of April, the unadjusted benchmark price was $627,100, down slightly from last month, but nearly two per cent higher than last April.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy CREB

CREA downgrades housing market forecast

Wed, 30 Apr 2025 20:15:00 GMT

The Canadian Real Estate Association has significantly downgraded its forecast for home sales activity and average prices for 2025 and 2026, citing mounting economic uncertainties and trade tensions.

In its latest quarterly report, CREA says this is the association’s “largest revision in between quarterly forecasts on record going back to the 2008-2009 financial crisis.” Concerns about tariffs and economic instability have notably impacted market confidence, pushing potential buyers to remain cautious or delay home purchases.

Home sales expected to remain flat in 2025

CREA now forecasts that approximately 482,673 homes will be sold in 2025, effectively unchanged (down just 0.02 percent) compared to 2024. This contrasts with CREA’s January prediction, which projected an 8.6 percent sales increase.

The anticipated stagnation reflects ongoing worries around the potential impacts of tariffs, stagflation risks, and uncertain interest rate movements throughout the year.

Average home prices see downward adjustment

The national average home price is expected to see a slight decline of 0.3 per cent, settling at $687,898 in 2025—around $30,000 lower than earlier forecasts. Price reductions are expected in British Columbia and Ontario while other provinces, still projected to see moderate price growth, have also had their expectations scaled back significantly to a modest 3 per cent to 5 percent increase.

Mild recovery expected next year

CREA anticipates a cautious recovery in 2026, forecasting home sales will increase by 2.9 percent and reach 496,487 units.

Still, the report notes, “sales would fail to crack the half-million mark for the fourth straight year. Historically, since 2007, national home sales have surpassed 500,000 units seven times.”

The national average price is forecast to increase slightly by 1.2 per cent over 2025, reaching $696,074.

Courtesy REM Magazine.

How do Tariffs Impact Housing in Canada?

Thu, 17 Apr 2025 20:35:00 GMT

The tariff tumult has rocked the global economy from North America to Asia. Canada, a critical trading partner for the United States, is stuck in the crosshairs of the new administration’s trade agenda – and the country could endure a shellacking the longer the trade dispute lingers.

During the April 2 “Make America Wealthy Again” speech, President Donald Trump announced a universal baseline tariff of ten percent and higher reciprocal tariffs, which have since been paused. Many Canadians were pleased that the nation was omitted from either list, particularly because Canada was subjected to the previous tariff regimes on automobiles, aluminum, and steel.

Indeed, Canada is not out of the woods just yet, and Ottawa’s recent actions signal that conditions could remain tense in the coming weeks or months.

Suffice it to say that the global levies announced by President Donald Trump are likely to impact Canada’s housing and mortgage sector significantly. The tariffs can affect construction costs, mortgage rates, and housing affordability for the average Canadian.

According to a research note by RBC Economics, Canada imported approximately $7.5 billion worth of steel and $9.4 billion worth of aluminum products from the United States last year. Canada accounts for nearly one-fifth of U.S. steel imports and about half of aluminum imports. Even HVAC unit and appliance costs are likely to increase since they are often assembled in the United States and brought to Canada.

In addition, many Canadian builders purchase crucial parts from the United States, especially from steel companies based there.

Lumber, meanwhile, is expected to be next on the White House’s tariff hit list. While Canadian lumber has been exempted from higher import duties – which could provide temporary breathing room to the Canadian real estate market – markets are bracing for a sudden announcement confirming new tariffs.

Should they go into effect, the tariffs will put cost pressure on Canadian housing.

The problem is that building material prices have climbed in Canada since the pandemic. With potential U.S. tariffs, the National Association of Home Builders (NAHB) estimates that nearly $9,000 would be added to the average cost to build a new single-family home. The increased cost can be attributed to labour shortages emanating from ubiquitous trade uncertainties, ballooning prices for materials like steel and gypsum, widely anticipated supply chain disruptions again due to trade uncertainties, and the ongoing 14.5 percent tariff on Canadian lumber.

As for broader inflation developments, economists have sounded the alarm that tariffs will likely increase inflation rates, resulting in higher interest rates due to cost increases, reduced market competition, supply chain disruptions, and retaliatory measures. Will this force the Bank of Canada to cut interest rates further? The central bank has already employed pre-emptive rate cuts – adopting the famous “insurance rate cut” scheme proffered by former Federal Reserve Chair Alan Greenspan in the 1990s – but whether the institution can continue cutting remains to be seen.

Additionally, internal and external forces affect the Canadian mortgage market, from the Federal Reserve to the bond market. If these tariffs worsen inflation south of the border, borrowing costs will likely increase across North America.

What This Means for Canada’s Housing Situation

Canada is already in a housing crisis, prompting experts to demand more housing units.

According to a 2023 study by the Canada Mortgage and Housing Corporation (CMHC), Canada needs to build 5.8 million new homes by 2030 if it wants housing affordability for Canadians. With the tariffs, construction costs will increase, and builders and investors might reconsider their plans before taking on new housing projects.

Remember, it is not just about steel. Higher prices will affect everything related to housing, whether cement, flooring, appliances, or tiles. Housing projects could be shelved, and the demand and supply gap could worsen. The last thing Canada needs right now is to increase homebuilding prices.

A trade spat could also harm the broader economic landscape.

In addition to the direct impact on house-building costs and the rise in mortgage rates, another potential problem is the risk of job losses resulting from trade tensions. Canadians are already struggling with the increase in the cost of living. With jobs at risk, layoffs, and a lack of new opportunities, housing demand could decrease, and the overall confidence in the real estate market could decrease. Existing homeowners could feel the pressure when renewing their mortgages, and new borrowers would find it difficult to afford monthly payments and pass approval processes. All this could hinder investment in housing.

An Economic Shift

In the end, the fact is that tariffs and trade wars result in economic shifts and uncertainty. This can hurt any market, and the housing market is no different. Buyers will be unable to buy because of rising prices, and investors will be hesitant to build because of rising costs. Lack of economic stability, reduced job opportunities, inflation, and high interest rates all delay major financial decisions such as buying a home. Housing development will slow down, the supply of homes will tighten, and demand will further push prices up, which will likely cause a major shake-up in the housing market.

Trade tensions are never suitable for any region. They can influence prices, impact monetary policy, and generally make things expensive. With all these pressures looming, many factors could be played out, including the Bank of Canada lowering interest rates, making mortgages cheaper, and potentially stimulating housing demand.

The current environment is uncertain. This is the one thing every market participant dislikes.

Tariffs and trade tensions could reshape Canada’s housing market—are you prepared.

Connect with a trusted RE/MAX agent today to understand how these changes could impact your buying, selling, or investment plans, and make your decisions with confidence.

Courtesy RE/MAX

Uncertainty weighing on housing market

Wed, 02 Apr 2025 15:53:22 GMT

Ongoing economic uncertainty, driven by tariff threats, has weighed on consumer confidence and impacted housing activity in March. Sales declined by 19 per cent year-over-year, totaling 2,159 units. Sales slowed across all property types, with the steepest declines seen in higher-density segments.

“It is not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss. Nonetheless, easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller.”

March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent, low enough to support further inventory gains. Total residential inventory levels reached 5,154 units, and the months of supply pushed up to 2.4 months. While this is a significant change from last year, with limited supply options across all property types and price ranges, conditions reflect a better balance between a seller and a buyer today. However, the market significantly varies depending on location, price point, and property type.

Improving supply has taken the pressure off home prices following the steep gains reported over the previous four years. In March, the unadjusted residential benchmark price reached $592,500, relatively stable compared to both last month and prices reported last March. Both detached and semi-detached prices remain consistent with peak prices and continue to rise, while apartment and row-style homes continue to report prices slightly lower than last year's peak.

Detached
Detached sales totalled 1,035 units in March, a year-over-year decline of 10 per cent. The decline in sales was met with improving new listings, supporting inventory gains over last year's extremely low levels. The improving supply compared to sales has caused the months of supply to rise to just over two months, a significant improvement over the less than one month reported last spring. However, the months of supply continue to remain tight with less than two months of supply for homes priced below $700,000. We are seeing a shift toward more balanced conditions for homes priced above $800,000.

The unadjusted detached benchmark price reached $769,800 in March, a gain over last month and over four percent higher than last year's levels. Limited supply options continue to support price gains for detached homes, although the pace of growth has slowed from the double-digit gains reported last year. Some of the largest gains occurred in the City Centre.

Semi-Detached
March sales slowed over last year's levels, contributing to the first quarter decline of 11 percent. The decline in sales has also been met with a gain in new listings. While conditions still remained relatively tight over the first two months of the year, the boost in new listings in March relative to sales did support further gains in inventory levels, causing the months of supply to push up to 2.2 months, the highest monthly level reported since the end of 2022.

The shift to more balanced conditions is slowing the pace of price growth compared to last year. However, with an unadjusted benchmark price of $691,900 in March, prices are still over five per cent higher than last year and above the unadjusted peak reached in July last year. Year-over-year gains ranged across the city, with the largest gains occurring in the City Centre and West districts.

Row
March reported a surge in new listings with 697 units. The growth in new listings was met with 400 sales, causing the sales-to-new-listings ratio to ease, and inventories to rise from the lower levels reported last year. There were 826 units in inventory in March, pushing above long-term trends, but remaining shy of some of the highs reported prior to the pandemic. Supply levels improved across all price ranges, with much of the gains occurring in the North East, North and South East districts. Like other property types, improving inventory relative to sales has shifted the market toward more balanced conditions, especially for row homes priced above $500,000. This has also slowed the upward pressure on home prices. In March, the unadjusted benchmark price was $454,000, two percent higher than last March, but nearly four percent below peak levels reported in June of last year.

Apartment Condominium
After the first quarter, condo sales reported the largest decline over last year compared to other property types. However, we achieved record highs last year, and the 1,383 sales remain well above long-term trends for the first quarter. Relatively strong demand has also been met with significant gains in new listings, causing the sales-to-new-listings ratio to fall below 50 per cent and driving inventory gains. As of March, there were 1,710 units in inventory, causing the months of supply to push up to just over three months. While the months of supply have risen compared to the exceptionally low levels seen over the previous three years, levels remain well below the over six-month average seen throughout 2015 – 2020.

Nonetheless, more supply has slowed the pace of price growth. The unadjusted benchmark price in March was $336,100, similar to last month and nearly three per cent higher than last March. Despite the year-over-year gain, prices remain below the peak reported last August. Prices are below peak across all districts, but the largest declines have occurred in the North and North East areas.

REGIONAL MARKET FACTS

Airdrie
With 160 sales in March, first quarter sales were 395 units, 11 per cent lower than levels reported at this time last year. Easing sales were also met with a gain in new listings, causing the sales-to-new-listings ratio to fall to 57 percent in March and supporting further gains in inventory levels. Last year at this time, there was limited supply available in the market compared to the sales activity. While the 398 units in inventory are much higher than the 164 units reported last year, with nearly two and a half months of supply, conditions are still moving toward more balanced conditions. Shifting away from the sellers’ market conditions has taken some of the pressure off home prices. In March, the unadjusted detached benchmark price was $651,300, up over last month and over two percent higher than prices reported last year. Recent gains have narrowed the gap from the peak price of $657,400 reported in June 2024.

Cochrane
Sales in Cocrane remained consistent with last year's levels in March. After the first quarter, activity remained slightly higher than levels reported last year and well above long-term averages. New listings also improved, but thanks to the level of sales, the sales-to-new-listings ratio remained elevated at 67 per cent, slowing the growth in inventory levels compared to some areas. The 213 units available in inventory in March are a rise over last year's low levels, but are consistent with long-term trends for the month. Improvements in inventory and stable sales did cause the months of supply to trend toward more balanced conditions, especially compared with the previous four years. This shift has slowed the pace of price growth in the town. In March, detached benchmark prices reached $686,800, a gain over last month and over five percent higher than last year. While price growth has slowed over last year, the current March price does reflect a new unadjusted record high for the town.

Okotoks
After the first three months, sales in Okotoks totaled 129 units, down from the 155 units reported in the first quarter of last year. New listings have started improving, but the sales-to-new-listings ratio remained above 60 percent, and inventory levels remain exceptionally low. With 96 units in inventory and 53 sales in March, the months of supply remained below two months, driving further monthly and year-over-year price gains. While price growth has eased from last year, in March the unadjusted detached benchmark price reached $715,500, a new unadjusted record high and over five per cent higher than levels reported last year at this time.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy CREB

Selling Your Home Before Your Mortgage Term Ends

Mon, 31 Mar 2025 16:33:00 GMT

What Happens When You Sell a House with a Mortgage in Canada

There are a variety of reasons that you might consider selling a house with a mortgage. The most common scenarios are when you need to move to a new location for a new employment opportunity, your family situation has changed with the addition of children or when your children head off to college or university or move out altogether. In each case, if your home no longer meets your needs, you may be contemplating breaking your mortgage contract. If you are considering selling a house with a mortgage, ensure you understand all the costs associated with breaking the mortgage contract.

The Costs of Breaking the Mortgage Contract

The cost of selling your home before the mortgage term ends and breaking the mortgage contract will depend on your mortgage type. If you chose your mortgage type without really understanding the ins and outs of an open versus closed mortgage, it’s time to get up to date on what you bought into when you signed on the dotted line.

Open Mortgages

When it comes to selling a house with a mortgage, if you have an open mortgage, you can sell your home without paying penalties for breaking the mortgage contract. That’s because an open mortgage is designed to provide greater flexibility without incurring financial penalties. While open mortgages still have a term, borrowers don’t have to wait until the mortgage matures to make changes.

You can make additional mortgage payments on a month-to-month or year-to-year basis without limitations, change your mortgage payment frequency, refinance, pay off, or break your mortgage before the end of your open mortgage term, all without incurring any prepayment penalties whatsoever.

However, the tradeoff for all this flexibility is that open mortgages come with higher interest rates than closed mortgages. Lenders charge a premium for allowing borrowers to break or change their mortgage agreement without penalties.

Open mortgages are usually chosen by homeowners who anticipate being able to make larger prepayments or pay off their mortgage sooner or whose life circumstances may require them to sell their homes before the end of the mortgage term.

Closed Mortgages

If you chose a closed mortgage for the lower interest rate or because you had no intention of selling before your mortgage term expired, you may be facing substantial penalty fees associated with wanting to break the mortgage now.

A closed mortgage has set conditions for the duration of the mortgage term. Once the mortgage contract is signed, the terms and conditions can’t be altered without incurring prepayment penalties.

Closed mortgages are known for their lack of flexibility. Lenders may offer some prepayment privileges, such as the ability to pay a certain percentage of the principal each year without penalty, but if you want to prepay more, pay off the mortgage entirely, refinance, or change the mortgage before the end of the term, a prepayment penalty will be levied.

Lower interest rates are the tradeoff for this lack of flexibility. Lenders are willing to provide more favourable mortgage interest rates on a closed mortgage in order to deter borrowers from breaking the mortgage contract or making additional prepayments.

Closed mortgages are usually chosen by homeowners who expect to remain in their recently purchased home for at least the duration of the mortgage term. This option is also optimal if you don’t anticipate making prepayments above and beyond what’s allowed in the mortgage agreement.

As indicated, if you have a closed mortgage, there will be penalties for selling your home before the term is up.

The highest cost will be the prepayment penalty – the fee for breaking the mortgage contract. The prepayment penalty can be thousands of dollars and will vary based on the terms of your mortgage contract. There will also be administrative fees, appraisal fees, reinvestment fees and a mortgage discharge fee, which removes the charge on your current mortgage and registers a new one.

You may also have to repay any cash-back or home equity line of credit you received when you got your mortgage. These fees can make breaking a mortgage before the term ends VERY pricey.

Options for Breaking a Mortgage Contract

There are options if you are thinking about selling a house with a mortgage. Some mortgage lenders may allow you to extend the length of your mortgage while beginning a new mortgage in a Blend-and-Extend option. In this option, the interest rates for the old and new terms are blended, and you won’t have to pay the prepayment penalty. However, you still may need to pay administrative fees.

Unfortunately, not every mortgage lender offers this option, so the only other choice is to break the mortgage contract. In this case, you may get a lower interest rate on your new home, but you will have to pay a prepayment penalty for breaking the contract. If you have a choice in whether you sell your home before the mortgage term ends, ensure that the benefits of breaking the contract outweigh the costs of paying the prepayment penalty and any other associated fees.

Pros and Cons of Selling a House With a Mortgage

It can be tempting to break your mortgage or sell your home if you see a lower interest rate or a home that better meets your needs in the market. But in some cases, you may not have much of a choice in the matter, like if you have to move for work.

Here are some of the pros and cons of selling a house with a mortgage and breaking the contract:

Pro: You may be able to get a lower interest rate and pay off the mortgage faster if you keep the payments the same. When moving into a new house, it is possible that you could get a lower interest rate than on your previous mortgage, and if you budget your mortgage payments as if you are paying into your old mortgage, then you could pay off your new mortgage early.

Con: You could end up paying more in the long run because of fees and prepayment penalties. The fees for breaking a mortgage before the term ends are very high, and even if you make higher payments on your new mortgage, there is no guarantee that the interest saved will be enough to cover the penalties. However, your mortgage advisor can run the calculations for you.

Pro: You may be able to lock in at a lower interest rate for the new mortgage term. Selling your house allows you to look for a lower interest rate for your new home, saving you money in the long run.

Con: You may no longer qualify for a mortgage under current economic conditions. Times are tough, and it could be that you are selling your house not to buy a new one but to move into a rental. If this is the case, again, it’s vital to ensure that the benefits of selling your home early outweigh the costs of the penalties.

What Mortgage-Breaking Penalties May Look Like

Many homeowners who decide to post a for-sale sign on their front lawn might be surprised to learn that they face a sizeable mortgage-breaking penalty, mainly because of how interest rates have evolved since 2019. According to Canada Mortgage and Housing Corporation (CMHC), in June 2019, the average conventional fixed mortgage lending rate for a five-year term was 4.23 per cent. By June 2021, it had fallen to 3.26 per cent. In October 2024, it surged to 6.49 per cent, then dropped back to 3.99 per cent in November 2024.

In order to capitalize on higher interest rates, mortgage lenders can use various techniques to impose penalties on borrowers before their loans expire. Industry experts assert that the most common formula banks use is the difference between the lender’s present rate and the contractual rate, which is also referred to as an Interest Rate Differential (IRD).

If you have a closed mortgage with a variable rate, you will usually be forced to pay three months of interest. If you have a closed mortgage with a fixed rate, you will either pay three months’ worth of interest or the IRD amount, whichever is GREATER.

If you’re considering selling a house with a mortgage, you need to do the math:

Suppose you bought your property when interest rates were high, using a fixed-rate/closed mortgage option with a five-year term at 6.59 per cent. Let’s also suppose that you still have 24 months left in the term, and you still owe $300,000 but want to break the mortgage and sell now.

Three Months’ Interest Calculation:

Outstanding balance of your mortgage:
$300,000

Multiply the outstanding balance of your mortgage by the annual interest rate on your mortgage:
$300,000 x 6.59% = $19,770

Divide the answer by 12 months to get the monthly interest payable per year:
$19,770/12 = $1,647.50

Multiply the answer by 3 (months)
$1,647.50 x 3 = $4,942.50

Total Three Months’ Interest is $4,942.50

Interest Rate Differential Calculation:

Current mortgage interest rate:
6.59%

Current Interest Rate on a 3-Year Term:
4.74%

Rate difference between your mortgage rate and current interest rate:
1.85%

Multiply your mortgage balance by the rate differential to get the interest differential for 1 year:
$300,000 x 1.85% = $5,550

Divide this amount by 12 to get the amount for 1 month:
$5,550.00/12 = $462.50

Multiply this amount by the number of months left in your term:
$462.50 x 24 = $11,100

Total Interest Rate Differential Penalty is $11,100!

In this case of a closed/fixed rate contract, the estimated penalty for selling a house with a mortgage, is $11,100 – since it is the greater of the results for the Three Months’ Interest versus Interest Rate Differential calculations – a sizeable chunk of change!

To lighten your financial load, you can endeavour to trim your penalties by taking advantage of prepayment features. You can either pay a portion of the mortgage early without incurring penalties or max out your prepayment options, meaning you will lower the total balance without triggering added costs.

In the end, sellers should consider a couple of things before selling their home before mortgage expiration:

The first is requesting a payoff quote. Speak with your mortgage lender and obtain a payoff amount, which is the amount owed on the loan.

The second is calculating your home equity. How much equity do you have in your home? This could play an important role in your decision-making as if your property has substantially appreciated since you bought it and there’s a significant difference in the latest market value of your home and the remaining mortgage balance – even a large penalty like the one we calculated above could be justifiable.

When Do You Stop Paying a Mortgage When Selling a House?

If you pay off your mortgage BEFORE you sell your house, your mortgage payments stop when you pay off any applicable penalties, administration fees, appraisal fees, reinvestment fees and mortgage discharge fees.

If you break your mortgage while still owing, once you sell, part of the monies you receive will be used to pay off any relevant penalty fees, plus the remainder due on your mortgage, effectively ending the monthly payments on your old mortgage.

Additional Penalties for Selling a House Before 1 Year in Canada

While principal residences in Canada are not subject to capital gains when sold, investment properties do not share this benefit. So, if you’re considering selling a house with a mortgage – and it happens to be an investment property or a secondary home – if you sell it within a year of purchasing it, you’ll not only pay penalties for breaking the mortgage but you’ll also owe capital gains tax on 50 per cent of your profits.

Gather All the Information

Before selling a house with a mortgage, make sure you understand the costs associated with breaking your mortgage contract. It’s also a good idea to speak with a mortgage adviser, as they can provide you with valuable information needed to help navigate selling your home before the mortgage term ends.