Housing shortage continues to drive up Calgary real estate prices

The Calgary Real Estate Board (CREB) reports that the average price of a single-family home in Calgary reached $636,167 in the first quarter of 2023, and is expected to continue to rise. CREB also predicts that there will be around 20,000 transactions in the year, but the rate of price growth should slow. The market is favoring sellers, and with a low level of inventory, buyers have to enter into a protracted one-upmanship procedure to get what they want. Inflation remains a dominant theme and population growth due to interprovincial migration is also influencing the market.

CREB’s chief

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