Calgary’s 2026 real estate market expected to stabilize: report

Calgary’s real estate market is expected to return to stable levels in 2026 after softening last year, according to the Calgary Real Estate Board’s (CREB) forecast.

Released Tuesday, the forecast showed the transition went from a market that favoured the seller to one with “more balanced” conditions.

Calgary home sales fell for all types in 2025. Apartment sales dropped by 28 per cent, row homes by 17 per cent, semi-detached homes by 8 per cent, and detached homes also by 8 per cent.

Meanwhile, CREB says inventory for all homes was plentiful in 2025, with a 50-70 per cent increase — except for row homes, whose inventory dropped by 87 per cent. Listings were also up, around 10-15 per cent for all home types save for apartments, which saw a 1 per cent drop.

Calgarian Aislinn Grant loves her Lakeview townhome, which she’s lived in for about three years. However, because of her growing family, she’s now putting it up for sale and looking for a larger home.

So far, she’s been pleasantly surprised by the options available in the market.

“I think there was a house that we looked at that was $500,000, which is pretty wild to me that you can get a full detached house for that now, whereas you couldn’t get that a few years ago,” Grant said.

More housing starts, especially for higher-density homes, were on the docket for 2025, but fewer people moving to Alberta is expected to continue leading to price declines for row and apartment-style homes in 2026, while semi and detached homes are expected to see small price increases.

As of November, starts were 26,439, passing 2024’s total by over 2,100 at 24,369.

While CREB says housing starts are expected to slow down in 2026 to match demand, given the number of new homes already in the pipeline, it will take time for the market to adjust.

“We have to remember, three years of seller market conditions is very difficult, it’s not typical to have double-digit price growth for that long,” Ann-Marie Lurie, the chief economist for CREB, told CityNews.

“Moving into a stable place provides much more opportunity for buyers and sellers.”

And while prices are down for now, Lindsey, the CEO and co-owner of CIR Reality, is advising buyers not to get too comfortable with them.

“If you see a good deal, don’t wait because it is more balanced, it’s still not fully on the buyer’s market side, but it is a good opportunity for buyers, something they have not seen for several years,” she said.

Rental rates are also expected to stay low, as there are still over 11,801 purpose-built rental units under construction, which will be completed over the next several years.

CREB also claims that reduced migration will contribute to additional supply taking longer to be absorbed, adding that it will “likely” keep vacancy rates elevated in 2026, further weighing on rental rates.