Calgary home sales are set to remain well above pre-pandemic levels this year. CREBNow | realestate realestatenews Alberta Calgary homesales housing
The CREB says that construction starts are expected to improve in 2023 as well, but not enough to expect significant gains in supply, due to the aforementioned demand accompanying increased migration.
However, that may not hold true across all property types and price ranges, the CREB notes. Homes on the higher end of the price spectrum are expected to see prices decrease, due to minimal supply constraints. Meanwhile, lower-priced homes have seen more supply constraints, which could likely result in some price increases.
Like in other real estate markets, Calgary saw a significant spike in activity that was driven by low interest rates during the pandemic. Interest rates drastically increased in 2022 — with the Bank of Canada
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