Many Canadian energy-related municipalities within Alberta and Saskatchewan have seen housing markets struggle over the past few years, resulting in price declines.

The recent mortgage rule changes and higher lending rates are factors weighing on demand and prices across some of those areas.

May sales activity continued to ease, with the largest declines occurring in the detached sector. Additional gains in new listings continued to increase inventory levels.

Citywide sales activity in May totalled 1,726 units, 19 per cent below last year's levels and 24 per cent below longer-term averages. Sales activity in the detached sector declined to levels not seen in over a decade.

"The impact of rising lending rates and stricter qualification levels is causing demand to ease across all product types," said CREB® chief economist Ann-Marie Lurie.

Prices steady, but struggles in Alberta economy weigh on housing

Changes to the lending industry and a challenging economic recovery are weighing on sales activity in Calgary's housing market.

Supply levels have not adjusted to the weaker demand environment, and that is preventing price recovery.

"Slower sales do not come as a surprise, given the economy has not yet improved enough to offset the impact of changes in the lending industry," said CREB® chief economist Ann-Marie Lurie.

"While the rising inventories are being monitored, prices have remained relatively flat as gains in some areas of the city have been offset by declines in other areas."

Prices remain stable compared to last year


As expected, slow sales this quarter have persisted through March in the City of Calgary. This is not a surprise, after stronger growth in sales at the end of last year following the announced changes to the lending market.

First quarter sales totaled 3,423 units, nearly 18 per cent below last year's levels and 24 per cent below long-term averages. Easing sales and modest gains in new listings caused inventories to rise and months of supply to remain above four months.

Calgary housing market prices hold, but sales fall

Residential home sales declined in February, but a decline in new listings helped keep prices steady this month.

Sales totaled 1,094 units in February, 18 per cent below last year's activity. Easing sales occurred across all property types this month, which outpaced the sales growth that occurred in January. After the first two months of the year, sales activity remains well below longer-term averages.

Sheila Darragh is searching for her next home, after a quick sale left her scrambling

Sheila Darragh is a woman in transition. Her husband recently passed away, and, finding herself alone in a big home, she knew it was time for a change. She placed her single-family, bi-level home on the market and it quickly sold, leaving her scrambling for a new home in an area with a strong sense of community. Over several weeks, she looked around the city, toured several neighbourhoods, compared home styles and visited showhomes. Nothing felt quite right, until she visited a friend in Cochrane. She fell in love with the quaint feel of the town. But with a rapidly approaching possession date, allowing her little time to suss out a new home purchase, she's decided to rent in Cochrane while exploring the market.

Classic timber-frame and log homes are the perfect fit for many Alberta acreage properties

Attractive acreage properties lend themselves beautifully to some classic building methods: timber-frame construction and natural log homes.

Each has its own appeal, and while the homes come at a premium cost, Alberta specialty builders say the results are worth the money.

Silverhorn acreage development focuses on conservation and enhancement of nature

For 25 years, Mark Kwasnicki has not only been living in the Bearspaw area on the doorstep of Calgary's northern boundary, he has also been building large, custom homes for some who would become his neighbours.

He knows what people want when it comes to acreage homes – including the high-end construction specs, impressive designs, and all the bells and whistles – but he also knows what they want from the development itself.

New developments on Calgary's western edge hope to raise the bar for active, outdoor living

Two major developments in Calgary's northwest will soon solidify the area's reputation as the gateway to Rocky Mountain recreation and winter adventure.

While the nearby Trans-Canada Highway will guide future residents towards mountain playgrounds in Canmore and Banff, the communities of Rowan Park and Medicine Hill will offer their own built-in recreational amenities.

New developments in surrounding areas limited price growth in 2017

When it comes to Calgary's housing market, there's a lot of activity on the outskirts and in surrounding areas.

"We have a number of new communities and areas with many new developments offering competing products for the resale market," said CREB® chief economist Ann-Marie Lurie.