The aggregate price of a home in Calgary is forecast to increase six per cent year-over-year to just over $600,000 in 2022. Sources say global economic conditions are resulting in a boost in energy prices, making Alberta an inviting place to live.
The Omicron variant could also play into 2022's pricing surge. Companies may consider delaying any return-to-work policies, with the most prominent example being large tech firms such as Apple, as recently announced last week. One’s home and one’s workplace may be one and the same for the foreseeable future.
Building optimism in Calgary's Market: Infills such as the one pictured above are as common as ever. A new 113 unit proposal on Mission Road, a new Brookfield proposal for 22 rowhouse building, and a CMLC designed Arts Commons expansion are just a few of the new projects that have been revealed in the past week
These conditions, in addition to a limited inventory, are expected to result in a "brisk" market for the city of Calgary. It may be some time until we see a buyer's market in the city.
Calgary is attracting young Canadians looking for affordable homes, desirable job opportunities and a modern, balanced lifestyle. Residents and prospective homebuyers look to infrastructure projects such as the new stadium and the Green Line as a sign of continued growth and optimism in Calgary’s Real Estate market.