Calgary Real Estate: A New Era for Buyers

0:00It's March 27, this is Canada News Today, powered by AI. Calgary's real estate market is cooling off after years of shortages, drawing in first-time buyers who were previously priced out. Realtors report a shift, with newcomers jumping in, thanks to the federal government's goods and services tax rebate on new homes and more favorable. Conditions overall. The rental scene is also easing up, with 3,100 units available in March, a 15% jump from last year. Average rents have dipped below $1,800, and Calgary's rent-to-income ratio looks better than in places like Edmonton or Vancouver. Local agents are thrilled about the change, noting how it opens doors for folks who never imagined buying before. Instead of just upsizers or investors, they're showing properties to true beginners, even in suburbs, with yards front and back. Listings are up 15% from last year, as investors cash out amid lower returns and steady interest rates.

1:00This extra supply is creating real opportunities and a more balanced market. For those on the fence, Realtors say the timing could be right, whatever direction prices take next.