Well, here we have it - Canadians have surprisingly supported another Liberal term, I guess we'll see how that goes over the next few years amongst a very interesting macroeconomic backdrop: US tariffs, rising inflation, increasing development, labour shortage, slower immigration than prior years.
That said, it might be worth noting a few facts I came across this week on CALGARY, and why we're building SO MUCH it seems like. Given all the development going on in the city, are we OVER-BUILDING what actual demand is? Well, let's have a look:
1. Over the last year, 91,000 new people made Calgary home
2. Prior to that, 83,000 new people made Calgary home
That's a total combined 164,000 new people that have moved to the Calgary metropolitan area in just the last TWO YEARS. That's the entire population of Kelowna, moving to Calgary in the last ~700 days (~10% of the population of the city).
In 2024, Calgary achieved a RECORD 20,000+ new housing starts and 19,500 the year prior (i.e., 24% of all new people who moved here) - that is more PER CAPITA than any Canadian city assessed by the CMHC. The trend continued in Q1 2025, and Calgary alone, is producing more than 50% of Alberta's housing starts...
So we consider that there are ~40,000 new housing starts against 164,000 people that have moved here over the last two years, that's a stark contrast. We definitely have seen that in our rental market with rents increasing at the fastest pace last year (although now softening...).
That's just a taste of what's happened over the last little while... will be interesting to see what the Feds will do to support housing, and if can actually be achieved (we'll see).
If you're looking to sell your home, please reach out for a free, no-obligation market assessment, and I'd love to give my opinion based on professional service, experience and knowledge of the Calgary market. Thanks again for everyone's support for helping me achieve the Top 10 Realtor in our office last year of ~120 agents -- more to come!