"Return to normalcy": Calgary could see a bump in new home listings this month
Calgary’s housing market has been increasingly out of reach for many locals, with interest in the city exploding, but a new report predicts the market could reach normal levels again this month.
According to Zoocasa, Calgary has been a sellerās market over the past few years following “an influx of out-of-province buyers,” which has left inventory struggling to catch up.
The headline of the website’s blog asks if Canadians can expect “a return to normalcy” this year, and the answer appears to be “yes” in Alberta.
The real estate listing site is predicting 4,358 new listings in May, a significant spike from January when only 2,736 new properties were listed. That number is slightly lower than in May of last year but within the average when looking at the past decade.
Zoocasa
These numbers align with what the city is used to seeing.
“From January to June each year between 2014 to 2023, the number of new listings in Calgary has only surpassed 6,000 twice – in April 2021 and March 2022. And in most of the last 10 years, new listings in May have stayed under 5,000,” reads the report.
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The prediction is based on Calgary’s average rate of increase, which is 59.3%.