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UNCERTAINTY Weighs on the Calgary Real Estate Market

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UNCERTAINTY Weighs on the Calgary Real Estate Market

WELCOME TO SPRING! Hoping everyone is enjoying the nice weather we've been having in Calgary this week - lots to do around town!

As we step into the notoriously busy real estate season, CREB issued their monthly market update for MARCH... 

Key theme over the last three months has been, and continues to be ongoing economic uncertainty weighing on consumer confidence, ultimately impacting the housing activity last month, seeing a 19% decline of sales (YoY). The silver lining here are that prices have stabilized, with less pressure to the upside providing some variety to buyers who have been sitting on the sidelines. Not to mention, rates are also expected to come down FURTHER, with the next BoC meeting on interest rates scheduled for April 16, 2025. 

It's no surprise, HOWEVER, important to note that sales still remain stronger than during the oil price downturn in 2015-2020; summary below:

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.