Thanks to gains mostly occurring in the newer communities, inventory levels in July were 6,917 units, reaching levels not seen since prior to the pandemic and higher than long-term trends. While supply has improved across all property types and all districts, the largest gains are occurring in the areas where there has been new community growth.  

In September, Finance Minister Chrystia Freeland announced changes to mortgage rules to increase homeownership opportunities for first-time buyers.

With the busy spring market behind us, we are starting to see some shifts in supply levels. With 2,380 sales and 3,604 new listings, the sales-to-new listings ratio fell to 66 per cent, supporting a gain in inventory. 

August sales activity was comparable to the strong levels recorded last year and well above long-term trends for the month.

The first quarter of 2022 saw record high sales activity, thanks to an increase in new listings. This provided some choice for buyers in comparison to the previous quarter, where sales exceeded the number of new listings.

Thanks to a surge in new listings, sales activity reached a record high for the month of February with 3,305 sales. The rise in new listings caused adjusted inventories to rise above last months levels. However, with only one month of supply, the market continues to favour the seller. 

Thanks to persistently strong sales, inventory levels in the city eased to 2,620 units, the lowest levels seen since 2006. This caused the months of supply to remain exceptionally low for this time of year at 1.3 months.

CREB^® has released its 2022 housing market forecast for Calgary and surrounding areas.

According to the report, housing market activity in 2022 is expected to moderate relative to record levels of activity in 2021, while remaining stronger than historical levels.

The average Calgary homeowner will see an increase in the assessed value of their property this year.