Calgary Home Sales Fall Amid Economic Uncertainty

Calgary Home Sales Fall Amid Economic Uncertainty

The Calgary Real Estate Board reported that home sales in the city fell year-over-year in May, but remained above trends. This trend indicates a shift toward more balanced conditions in the housing market.

According to CREB’s monthly report, the completion of townhomes and apartment-style condos contributed to lower prices in those sectors. However, prices for detached and semi-detached homes varied widely depending on supply levels.

CREB chief economist Ann-Marie Lurie attributed the easing sales and rising inventories to economic uncertainty weighing on housing demand. She stated, "Compared to last year, easing sales and rising inventories are consistent trends across many cities."

Prior to economic uncertainty, Calgary was experiencing seller market conditions. The residential unadjusted benchmark price in Calgary was $589,900 for May 2025, which is 2.5% lower than the same month a year earlier.

Key points include:

  • There were nearly twice as many active listings at this time last year compared to current levels.
  • This situation contrasts with larger cities that were already struggling before the economic uncertainty.
  • Sales activity has slowed across most price ranges, supporting a shift toward more balanced conditions and relative stability in prices.
  • Districts facing competition from new home products or experiencing larger pullback demand are showing signs of elevated supply, notably in Northeast Calgary, which had previously seen significant price gains due to being undersupplied.
  • Semi-detached homes continue to make up less than 10% of all sales and inventory levels within the city.
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