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Calgary's housing market will ward off cooling trend in 2023

The benchmark price for a detached house in Calgary is $629,350 in 2022, up from $549,800 in the previous year

👤 Srimathi Sridharan26 Jan 2023 5:50 AM GMT
Calgarys housing market will ward off cooling trend in 2023
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Toronto: Calgary's housing market is positioned to do better than it had before the pandemic according to the outlook in a report by the Calgary Real Estate Board (CREB). The 2023 forecast predicts prices will not see the dramatic drop-offs as traditionally hot markets like Toronto and Vancouver are seeing as they continue to cool.

The board is also expecting lower total sales activity, predicting about 26,000 home sales, down from 30,000 in 2022. In the detached housing market within the City of Calgary, sales dropped from 17,037 in 2021 down to 15,795 – but prices in this category grew in the same timeframe.

The benchmark price for a detached house in Calgary is $629,350 in 2022, up from $549,800 in the previous year.

"We're optimistic about getting a sale soon," said Taryn Fay-McClymont.