After a small slowdown in the market in the second half of 2022, Calgary roared right back to life in 2023… well, in some ways.
The market is extremely tight with the lowest inventory we have ever seen. This means properties selling quickly, often in competing offers and often above asking price.
But because inventory is SO lacking, it has brought the number of sales down significantly. There is simply nothing to buy.
It was so nice to be back at the Calgary Real Estate Board (CREB) Economic Forecast yesterday to hear from some local experts about where we are headed as a city and what we can expect to see for the years to come. It’s another great reminder of why we are proud to be Calgarians!
I am aware that Calgary has had MANY boom and bust cycles, long before I was a realtor (and before I was born too!). But I wanted to take a look back at the similarities and differences between the three big boom cycles I have been through in my own real estate career – 2007, 2014 and 2022.
Like many professions, realtors belong to a licensing body that provides education and licensing, as well as rules and enforcement of those rules.
Many rules are behind-the-scenes housekeeping that indirectly affect consumers but of which they may not be aware (such as how large the logo of our brokerage needs to be on any advertisement). Others influence the everyday experience of home buyers and sellers.
Well the winds of change are in the air! After a blazing hot first two quarters, the Bank of Canada interest rate increases are starting
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