I have recently updated my publication on the effects of the Calgary Event Centre will have on the local real estate market and what options investors have to take advantage of this opportunity.  You can find a summary on my Instagram account and the full publication here.

A friendly reminder that my next Meetup will be at 6 pm on Tuesday, January 21!  Hope to see you there.

https://us06web.zoom.us/j/85888309474?pwd=f4cbKAJIMajuFZFtrcqImpwlHjv8Pj.1

ATB publishes a quarterly economic forecast focused on the province of Alberta and highlights the key issues and trends in the provincial economy

This forecast will help guide Calgary real estate investors and give them confidence that there is more upside than downside in the current market. However, investors must be mindful of the downside risks and what conditions they could come about and what their magnitude would be

The reasons to be optimistic are:

• Non-energy capital investment - is trending up and has eclipsed energy capital investment for the better part of a decade

• Energy production - at record production with no signs of abating

• Monetary policy - monetary policy will have to continue to support a struggling Canadian economy. Coupled with a resurgent energy industry with a change in federal government, Calgary real estate is poised for another boom

The reason to be cautious is:

• Net migration - slowing due to affordability challenges in Calgary appears

The ‘jury is still out’ reason is:

• Energy capital investment - LNG represents a massive opportunity but only if the regulatory environment is accommodating. A change in federal government will do much to achieve that but is a year or two off

I’m still bullish on the Calgary real estate market in 2025 and will continue to be in acquisition mode.  The upsides significantly outweigh the downsides.

I provide more commentary on my Instagram page (kampsrealty).

Sales for total residential were 1,322; with an additional 1,239 new listings, the sales-to-new listings ratio increased to over 100%. While this would indicate a strong seller’s market, it is likely a quirk of seasonality and the holidays in December

The unadjusted benchmark price decreased month-over-month, going down from $587,900 to $583,300, a modest 3% increase from last year

The Calgary real estate market remains relatively hot compared to historical standards but is cooling from the elevated activity over the last 3 years. December and January are historically periods of low activity, however, if the Bank of Canada makes another large interest rate reduction in January, the spring market could be extremely active

CMHC published its Rental Market Report highlighting the key metrics and trends characterizing the Calgary real estate market

Key takeaways:

• Calgary’s rental demand remain high on migration-led population growth. This includes interprovincial and international arrivals

• This net migration also drove up unemployment as more people arrived than there were jobs available

• Vacancy rates increase due to more multifamily housing being completed, particularly for purpose-built rentals

• Vacancy rate increases were most pronounced on new builds. This indicates that there is still a flight to affordability among renters

My insight - older, suited properties are still very viable for real estate investors, with low vacancy rates among these units