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.

Thanks to exceptionally high sales in December, 2021 was a record year for home sales. Calgary sales reached 27,686 units this year, nearly 72 per cent higher than last year and over 44 per cent higher than the 10-year average.

Driven by growth in demand for all property types, there were 2,110 sales in November, just shy of the record for the month set in 2005.