Author: Dave Kube

Reflecting on what 2027 might bring for Canadian housing, I’m reminded just how much our market evolves with broader economic shifts. According to CMHC, we can anticipate a gradual improvement in housing conditions as incomes and economic growth pick up. While sales are expected to rebound, activity might still lag behind the busier years of the past decade. The CREA is forecasting only modest national price growth—so rather than another big spike, we’re likely headed toward a period of stabilization. For buyers, higher inventory and softer demand in some areas could mean more room to negotiate, a notable change from the recent competitive landscape. After more than four decades in Calgary real estate, these cycles continue to shape how I help clients navigate opportunities and challenges. As always, I’m here to share what I learn and experience firsthand as our market transforms.

National Day for Truth and Reconciliation honours survivors and raises awareness about their experiences.
It's a symbol of Canada's commitment to reconciliation with Indigenous communities.
Wearing orange shirts on this day symbolizes respect for survivors and raises awareness about residential schools.
May this day inspire a future where every voice is heard, and every spirit is healed.
Together, we can create a tomorrow filled with hope and endless possibilities.

Understanding the essentials of Alberta's new home warranty is something I’ve navigated with clients and colleagues throughout my career. Since February 1, 2014, every newly built Alberta home requires warranty coverage that remains with the property, even after resale, and starts at occupancy, permission to occupy, or title transfer—whichever comes first. With seven warranty providers operating in Alberta, municipalities must verify builder licensing and warranty details before granting permits, ensuring protection for both buyers and sellers. As of December 1, 2017, all new-home builders must hold valid active licences, and homes built since February 2014 cannot be listed or sold until warranty registration is confirmed. For those buying or selling, it’s crucial to check the property registry for warranty information on homes and builders. Decades in Calgary real estate have taught me the value of staying ahead of regulatory changes like these. Keeping informed is key to making confident decisions in today’s evolving market.

After more than four decades helping clients navigate Calgary’s real estate landscape, I’ve seen how every dollar counts when it comes to new home construction. A recent report from our national housing agency highlights that development fees can significantly bump up the cost of new homes—sometimes enough to make or break a project. In fact, reducing these fees could make about 14% more residential developments financially viable nationwide. The impact is even bigger in cities like Toronto and Vancouver: eliminating the charges could boost viable projects by around 10%, and Toronto could potentially meet half of its stated housing needs.

Here in Calgary, development fees are on the lower end—ranging from roughly $4,000 for a one-bedroom high-rise to $9,000 for detached homes. That’s a stark contrast to Vancouver, where similar fees run between $20,000 and $33,000, putting extra pressure on affordability. Of course, these fees do fund essential infrastructure—roads, sewers, and city services—so there’s a balance to strike. But as we all learn and adapt to today’s market dynamics, it’s clear that reducing costs on family-sized homes could help more projects get off the ground, especially in cities where new, larger units often out-price comparable resales and challenge families looking for space.

As I continue to follow these shifts, I’ll keep sharing insights and experiences to help my clients and fellow realtors stay ahead of the curve.

Over my four decades as a Calgary Realtor, I've witnessed many market cycles—and Mid-Q3 2024 is shaping up to be another chapter worth noting. Sales in our city reached 1,660, marking a 16% decrease compared to last year. The residential benchmark price now stands at $570,000, reflecting an overall dip of about 1%. What's particularly interesting this quarter is how condo-style homes led the way in softening: apartment benchmarks dropped to $295,000, down roughly 8% year-over-year, and row homes averaged $415,000—a decline of around 5%. Detached homes settled near $744,000 after a slight 1% decrease, while semi-detached properties edged up to $691,000, showing a modest gain. On the supply side, we saw 3,140 new listings (about 10% fewer than last year), with total inventory at 6,510 homes—just a bit lower than previous levels. As always, movement varied across price bands. Improved supply provided more options in Calgary’s upper end, while strong rental conditions kept some buyers on the sidelines at entry-level prices. Navigating these shifts is all part of what I do—adapting, learning, and sharing insights as our market evolves.

Price Reduced.! Penthouse Living in The Wedgewoods of Discovery! Rarely do top-floor units become available in this highly sought-after concrete building. This beautifully maintained 1,031 sq. ft. penthouse condominium has 2 bedrooms, 2 bathrooms, 9-foot ceilings, and peaceful east-facing views into the trees, creating an exceptionally private and tranquil setting. The bright, open-concept design is highlighted by a spacious living room with a cozy gas fireplace and large windows that bring in an abundance of natural light while showcasing the mature forest setting. The kitchen overlooks the dining and living areas, making it ideal for both everyday living and entertaining. The spacious primary bedroom features a walk-in closet and a private 4-piece ensuite, while the thoughtfully separated second bedroom is conveniently located beside a 3-piece bathroom, making it perfect for guests, family, or a home office. Additional features include in-suite laundry and a titled underground heated parking stall. The Wedgewoods of Discovery is one of Calgary’s premier condominium communities, renowned for its solid concrete construction, exceptional soundproofing, and outstanding management. Residents enjoy access to a fully equipped fitness centre and owners’ lounge in Building 30, secure entry, abundant visitor parking, and beautifully maintained grounds. Condo fees include heat and all utilities, offering exceptional value. Bordering the spectacular 93-acre Griffith Woods Park and the Elbow River pathway system, this unique location offers kilometres of walking and cycling trails right outside your door. Enjoy the peaceful surroundings of nature while remaining just minutes from shopping, major roadways, and downtown Calgary. It’s easy to see why so many residents describe living at the Wedgewoods as “Like living in Canmore” yet 15 minutes to downtown. Whether you’re downsizing, looking for a lock-and-leave lifestyle, or simply searching for one of Discovery Ridge’s finest condominium communities, this rare penthouse opportunity is not to be missed.

After more than 40 years in Calgary real estate, I’ve seen how shifts in interest rates ripple through our local market. Recent research from Canada’s central bank highlights something I’ve watched play out time and again: when rates drop, homebuyer demand jumps almost immediately, while new housing supply takes much longer to catch up. We see a surge in resales within months of a rate cut—typically reaching its peak 18 to 24 months later. Yet, the real boost in new construction doesn’t really kick in for about two years, often because planning and permitting (especially for multi-unit projects) just can’t move any faster. Strong labour markets can push this momentum even further, as more households feel confident to buy and lending conditions loosen up. But ultimately, the researchers confirm what many of us have experienced first-hand: while lower rates can eventually encourage more building, they aren’t a quick fix for affordability. The lag between demand and supply remains a challenge, reminding us that monetary policy alone isn’t enough to address housing pressures in Canada.