Some market updates are about numbers.
This one is about context.
Because real estate doesn’t exist in a vacuum. When politics shift, economies respond. When economies respond, housing follows. And as we step into 2026, pretending those forces don’t matter is no longer an option.
This year marks the Year of the Horse, often associated with rebirth. Not a rebirth fueled by panic or speculation, but one rooted in clarity. That framing matters because after years of rapid change, Calgary’s housing market is no longer sprinting. It’s recalibrating.
December behaved exactly as history suggests it would. Sales slowed, people paused, and travel took priority. Calgary recorded just over 1,100 sales, with active inventory finishing the year around 6,800 homes. That equates to roughly six months of supply across the entire market, but that number can be misleading if taken at face value.
Calgary is a sub-market city. Six months of supply does not mean six months everywhere. Location, property type, and price point now matter more than ever.
Prices in 2025 corrected, but they did not collapse. The city’s benchmark price sits just under $555,000. Apartments and some townhouse segments experienced the most pressure, while detached homes and duplexes, particularly in resilient neighbourhoods, held up far better. This distinction matters. A correction is the market catching its breath. A crash is panic. What we experienced was the former.
On the ground, the market tells a more nuanced story. Some listings sit quietly. Others, when prepared properly and priced accurately, still generate strong interest. Buyers are more selective. Sellers are more patient. Deals take longer. Momentum hasn’t disappeared; it’s become more intentional.
One of the biggest forces slowing movement is the missing middle. Entire rungs of the housing ladder are missing. First-time buyers struggle to enter. Move-up buyers can’t sell with confidence. Downsizers can’t find functional homes within their communities. This isn’t a demand issue. It’s a mobility issue, and it affects every segment of the market.
Interest rates remain stable and historically reasonable. The broader economy has proven more resilient than expected, and monetary policy can only do so much when the challenges are structural. As we move into 2026, stability with selective strength is the most realistic outlook.
This is a market that rewards preparation.
Buyers who understand where leverage exists will find opportunity. Sellers who invest in pricing, preparation, and positioning will still succeed. Calgary and Alberta remain well-positioned relative to other Canadian markets, but 2026 will not reward shortcuts or speculation.
This year is about clarity over chaos.
If you want a real strategy tailored to your goals, your neighbourhood, and the realities of this market, I’m here to help. The next chapter is already unfolding, and the best opportunities often belong to those who are ready before they’re obvious.
