Sellers’ market conditions continue to impact prices

>City of Calgary, Feb. 1, 2022 – Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months.  The tight market conditions contributed to further upward pressure on prices. The unadjusted benchmark price in January reached $472,300, a monthly gain of nearly two per cent and a year-over-year gain of 12 per cent. “Expected gains in lending rates are contributing to persistently strong demand in the housing market, as purchasers are eager to get ahead of any increases,” said CREB® Chief Economist Ann-Marie Lurie. “We did see more listings…

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CREB 2022 forecast graphic

Media Release: Calgary housing market expected to remain strong in 2022 after record-breaking 2021


City of Calgary, Jan. 25, 2022 – Housing market activity in 2022 is expected to moderate relative to record levels of activity in 2021, while remaining stronger than historical levels.
“Despite challenges with COVID-19, we are starting to see a turnaround in our job and migration numbers, and while interest rates are expected to rise, they remain relatively low. All these factors are expected to support strong housing demand into 2022,” said CREB® Chief Economist Ann-Marie Lurie. “The biggest question will be whether supply can meet that demand. It will take time for housing to move out of sellers’ market conditions, so we do anticipate prices will…

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