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Still some warm weather for the rest of the week, wrapping up the summer in 2025 (enjoy it out there)!
August pegged a critical month of real estate activity following a few years of quite the heated real estate market in Calgary (this August saw the highest inventory jump since 2019). The unadjusted residential benchmark price was $577,200, down month over month, and down ~4% compared to last year.
The bulk of the impact is from townhome and apartments, with a staggering increase in supply hitting the market. Stability with some modest growth in detached and semi-detached housing, but areas / neighbourhoods matter, with communities with the largest supply growth (via new builds) seeing the bulk of the impact.
More inventory + lower sales, led August to see ~3.4 months of supply.
In recent news, Canadian GDP slowed sharply in Q2, coming in weaker at -1.6% (annualized), following a 2% gain in Q1 2025. Still in line with the BoC estimates, but the weakness was largely concentrated in heavy trade-exposed sectors. Banks are expecting GDP growth to slow further (still positive) for the remainder of 2025, but this will largely impact the BoC's upcoming rate decision on September 17th. (more from RBC)
Potential expectations of rate cuts could provide some incentive for buyers in real estate, but will unlikely be as strong as prior years with slowing international immigration and growing housing supply from new home builders and purpose-built rentals.
Looking for something to do this weekend while the weather is still good? Check out the list of events going on this weekend!
