The message "Alberta is Calling" has been heard loud and clear. A net increase of 41,124 people coming to the province in the last quarter of 2022 is putting pressure on the inventory of housing available. The spring season is when the highest number of listings typically come to the market. However, as May begins, there is just over a one month supply of listings . In April, the benchmark price for a detached house in Calgary hit a new high of $661, 900.
In the spring 2023 Housing Market Outlook, CMHC notes "continued strength in the energy sector will support demand for housing in Calgary". However, it is expected that the city's housing sales volumes will moderate from 2022, but "the demand for housing in 2024 and 2025 will be sustained from "interprovincial and international migration". Finally "affordability in the rental market will decline as vacancies continue to decrease and rents continue to rise." If you are considering a property sale or purchase, contact me for a conversation about your next move.APRIL MLS STATISTICS