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

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:

1. Higher Interest Rates

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

2. 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.

3. 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:

1. 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.

2. 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

3. 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.

4. 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:

1. 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.

2. 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. 

3. 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. 

4. 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:

1. 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. 

2. 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. 

3. 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:

1. Low Housing Inventory

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

2. High Buyer Demand

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

3. Low Interest Rates

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

4. 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:

1. 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.

2. 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. 

3. 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.

4. Work with a Knowledgeable Agent

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

5. 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

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

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

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

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

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

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.

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

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

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.

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