Blog

This week’s flurry of economic news is sharpening the outlook for Canadian housing—something I’ve watched evolve over my 40+ years in Calgary real estate. With new inflation, housing, and trade data in play, all eyes are on how these factors could sway central bank policy through 2027. Notably, a leading real estate group has just revised its 2026 forecast, now predicting national sales will dip this year rather than grow as previously expected. At the same time, a looming mid-Q3 tariff deadline threatens to put nearly US$20B of Canadian exports under heavy US tariffs, adding another layer of uncertainty. Fresh insights from housing starts, retail sales, and lending surveys give us more to consider, as they reflect real changes in construction and spending habits nationwide. I’m always interested to see how these numbers translate on the ground here in Calgary, as we adapt together to the ever-changing real estate landscape.

After more than four decades helping Calgarians navigate our real estate market, I’ve seen plenty of cycles—but the most recent numbers on housing affordability here in Calgary are truly noteworthy. During Q2 2026, Calgary was one of just six metropolitan areas in the latest monitor to record improved affordability, marking an impressive 10th consecutive quarter of gains. That’s a streak we haven’t seen before, showing the direction is positive—even as the report points out that, across all metros tracked, we’re still not back to historical norms. This recent progress came as price declines managed to offset slightly higher mortgage rates, reversing the earlier trend where rate changes were the primary driver. Looking ahead, the banks aren’t expecting much relief from mortgage rates, so steady income growth and modest home price changes will be key. As someone who’s watched these shifts up close for over 40 years, I know how important it is to stay informed and adaptable as our market evolves.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

Canadian home sales are showing renewed momentum, but buyers remain cautious and overall activity is still below last year’s levels.
New listings are declining while sales improve, gradually bringing supply and demand closer to more balanced conditions.
Price growth remains restrained, giving buyers more stability without creating the sharp correction many had anticipated.
Regional differences remain significant, making market selection increasingly important for buyers and sellers across Canada.

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.

Calgary has led office-to-residential conversions, representing ~40% of activity over the past 5 yr while addressing persistent downtown office vacancy pressures locally.
A city grant of $75 per sq-ft at completion has helped make projects workable when buildings cost $50-$100 per sq-ft before construction.
Construction still runs ~$300-$400 per sq-ft, and Calgary recently added $25M for another phase, with even stronger incentives now aimed at hotels.
Local support has drawn private capital, with $4 invested for every $1 of grant funding, helped by Calgary's population spike and housing demand.
Looking ahead, Calgary's clearest conversion opportunities appear to be older B and C office buildings, especially when reusable systems and faster timelines improve cost certainty.