The Calgary Real Estate Board 2024 Market Forecast

Every year the Calgary Real Estate Board (CREB®) announces their forecast for the Calgary real estate market. This is such informative, valuable information for you to have as a buyer, seller, investor, or window-shopper. Real Estate is a major financial investment, so you want to ensure you go into any kind of transaction with eyes wide open. Here are some of the highlights from their report, which you can read in full by clicking here:

  • "Rising lending rates have had a notable impact on the housing sector, prompting potential buyers to search for more affordable housing options"
  • "Supply remains an issue this year, but gains in new home starts and new listings are expected to support some modest gains"
  • "Supply growth is anticipated to be driven mainly by upper price ranges, decelerating the pace of price growth for higher-priced properties. Meanwhile, lower-priced properties are expected to face continued tight conditions, contributing to sustained price gains."
  • "Despite a moderation from record-high levels, strong migration growth and a robust labour market have kept sales well above long-term trends."
  • "With more mortgages set to renew, we could see some gains in resale listings as existing homeowners who were previously hesitant to change their housing situation may be motivated to capitalize on rising prices and favourable seller market conditions."

Chief Economist Ann-Marie Lurie writes, "The challenge was limited supply, especially for low-priced homes with the strongest demand. This resulted in significant price growth with the largest gains in our lowest-priced homes. We expect potential buyers to re-enter the market as lending rates ease and listings improve. Conditions are not expected to be as tight as in 2023, but supply growth takes time, and sellers’ market conditions are expected to persist through the spring, driving further price growth in 2024.”

Curious to know more? Ready to make your move? Contact Ken Richter today at 403-630-6363 or

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