August Real Estate Market Update 2022

“City of Calgary, August 2, 2022 – Significant slowdowns in the detached and semi-detached market were nearly offset by sales growth in the apartment and row sectors. This left July sales three percent lower than levels recorded last year. While this is the second month where sales activity has slowed, total residential sales this month are still amongst the strongest levels recorded in our market.”

Crashing market is what “they” are saying. 

Booming market is what we are saying here, locally, in Calgary, Alberta. 

Regardless of opinion or the headlines in the media, it’s the data we like to talk about most.

Sentiment does affect the market but statistics are facts.

The facts are:

  • Construction costs are increasing. Stat’s Canada says, “Residential building construction costs increased 5.6% in the first quarter of 2022.”
  • Interest rates are increasing.
  • Inventory is still low – less than two months of supply.
  • Commodity prices are increasing.
  • Inflation is high.
  • Alberta’s unemployment rate is decreasing.
  • Net migration is up. The Alberta government has kicked off a campaign to attract more qualified workers to Alberta.
  • Incredible infrastructure projects are being completed.  The Ring Road, state-of-the-art hospitals, rec centres and more.

Yes, Alberta is the place to be for the next while. So getting into real estate or hanging on to the real estate you have is the way to go.  There is nothing quite like it – there never has been and likely won’t be.

For all of your residential real estate buying, selling, and investing, we have strategy and experience that’s ready to work for you. 

Detailed market statistics from the Calgary Real Estate Board for July 2022 are available HERE. Contact us directly for the stats on Airdrie, Cochrane, Rockyview, Bighorn, or other areas in the Calgary region.