01/24/2025
Our team attended the CREB 2025 Forecast this past week and here are the main takeaways from the event:
▫️Housing demand is expected to stay above long term trends driven by past population grown, job growth, lower lending rates and improved supply
▫️Economic risk remains with the main concern being the potential tariffs, however Alberta’s economy is still set to expand
▫️Employment in Calgary is expected to rise by 2% driven by construction, retail, healthcare and education
▫️Calgary’s population growth was above 5 percent in 2024, driven by high international and interprovincial migration. federal policy changes are expected to slow migration, reducing Alberta’s growth to 1.9%
▫️New home starts are expected to slow from record highs in 2024
▫️Rental rates are expected to slow down in 2025. The past year saw 5,500 new rental units added to the market by October 2024- the continued supply growth and slower international migration numbers should dampen rental rates moving forward
We would love to chat further about the market in 2025, send us a DM to connect! ☕️