Calgary's Housing Market in 2025: A Shift Toward Balance

The Calgary housing market, long characterized by its intense competition, is set to transition to more balanced conditions in 2025, according to the Calgary Real Estate Board (CREB). The board's annual housing market forecast, released this week, outlines key factors shaping the market this year.

While easing lending rates, a growing housing supply, and steady population and employment gains are providing relief for buyers, significant risks remain. Chief Economist Ann-Marie Lurie notes that external economic pressures, such as potential U.S. tariffs, could influence Calgary's housing activity.

“This year’s market dynamics will be shaped by rental adjustments, improved supply, and economic uncertainty,” Lurie said. “These factors will give buyers more options and time to make informed decisions.”

CREB anticipates housing sales to exceed 26,000 units in 2025, with price growth moderating to an annual increase of 3%. However, competition from new home construction may impact certain sectors of the resale market, creating variation in price growth across segments.

The forecast highlights challenges for renters, particularly those with lower incomes. While higher-income renters may benefit from stabilizing rental rates, affordability issues persist. Since 2022, rents in Calgary have risen by an average of 30%, according to tenant advocacy group ACORN.

Economic uncertainty looms large. The possibility of tariffs on Canadian goods could push the economy toward a recession, Lurie warns. Conversely, minimal economic disruption might result in stronger growth and higher price gains in the housing sector.

Royal York Property Management closely monitors market shifts like Calgary's to better serve property owners and tenants. By staying informed on economic trends and housing conditions, RYPM continues to deliver innovative solutions for residential property management.

Source: Calgary Real Estate Board (CREB)