Many of you might be wondering what the current Calgary real estate market is like now... after the Canadian Federal Election, and following the onset of certain tariffs from the U.S...
CREB reported their monthly statistics (albeit April data), it shows an interesting picture leaving many wondering if we're back to a balanced market. I also came across an interesting article worth looking at (more about that below)..
Compared to April last year, we've seen a significant increase in listings, with total inventories rising to 5,876 units during the month -- this is double what we saw last year! However, last year's inventory was exceptionally low, and this total represents more of the longer-term trend. Sales are still happening, also consistent with long-term trends (despite being 22% lower than last year, which was an outlier).
Previous gains in migration, stable employment levels, lower lending rates, better supply choice have help keep prices stable. With total months of supply, we're in a balanced market (generally), but really depends which segment we're looking at.
Now, on that interesting article.. we know Alberta has seen a drove of people moving to the province for LOWER COSTS, LOWER TAXES, HIGHER AVERAGE INCOMES, but did you realize that the bulk of interprovincial migration is largely from people between the ages of 25-44, calling Alberta their new home. (Article) Why this is important, is that this demographic DRIVES consumption, and economic PRODUCTION. So we're seeing migration, but also skilled migration into our province which will set us up for (hopefully) a very promising future in our province.
