APRIL 2022: Housing sales in Calgary for the first quarter of 2022 continue to exceed expections, breaking levels and records not seen since for almost a decade. As we head into spring, April and May typically are months when listing and sale volumes increase. The question remains, how much longer will extreme seller's market conditions willl prevail?
Given the strong demand for housing in early 2022 and growing headwinds from rising mortgage interest rates, the pace of sales is excepted to slow. However, housing affordability has become an advantage to Calgary sellers, often attracting out-of-province buyers who are priced out of markets such as Toronto, Vancouver, and Victoria. This demand is combined with a rebound to the energy industry, a growing tech sector, and increasing international immigration. Calgary could be on track for a sustained period of growth and rising property values.
READ FULL REPORT 1st Quarter 2022 Statistics, Calgary Real Estate Board