Author: keepitsimplesold-ca

After 10 straight quarters of challenging affordability in Canada, it’s clear that mortgage rate relief isn’t coming to the rescue—at least, not anytime soon. The spotlight is shifting to home prices and income growth as the main factors that will drive change. Over the next year, most economists anticipate mortgage rates will either hold steady or increase slightly. That means real affordability progress will depend on whether we see home prices level off.

For those of us in Calgary, the story looks different than in Vancouver or Toronto—every conversation I have with clients is shaped by our unique market and what buyers and sellers are actually up against here. Slower population growth is expected to cool housing demand and help keep prices in check, while a gradually improving labour market should give local household incomes a bit of a boost. But without consistent moderation in home prices, any gains in affordability may be limited.

Eighteen years in Calgary real estate has taught me how quickly the market can shift—and why each buyer and seller needs a strategy tailored to what’s happening right here, right now.

This week’s economic updates are giving us plenty to watch, especially for anyone following Canada’s housing market. With new data on inflation, housing starts, and lending all landing at once, plus ongoing trade talks and looming tariffs that could impact nearly US$20B of Canadian exports, there’s a lot affecting our outlook. The central bank’s next steps—whether to consider another rate hike or hold steady through 2027—are now even more in focus as fresh numbers on home sales and early Q3 inflation come in. It’s also notable that a major real estate group has just adjusted its 2026 forecast, predicting national sales will dip slightly this year rather than grow. As someone who’s spent nearly two decades navigating Calgary’s ups and downs—helping families buy, renovate, and find their next step—I know how much all these moving parts can shape real decisions and long-term plans. Whether you’re weighing your options or just keeping an eye on market momentum, staying informed is key to making confident choices.

After 18 years guiding Calgary families through every kind of market, I’m always watching for shifts that matter. This past quarter, Calgary saw housing affordability improve—a milestone that puts us among just six major metros with positive movement, according to the latest monitor. It’s part of a record 10-quarter streak of progress, which is not something we see every cycle. But even with this encouraging news, we’re still not quite back to the historical norm for affordability—there’s more work ahead for everyone searching for a home.

What’s driving this? Recently, falling home prices have done more to help buyers than mortgage rates, which have edged up a bit. The experts don’t expect rates to ease soon, so it’ll be steady incomes and careful home-price trends that make the real difference. For anyone navigating these changes—whether you’re buying your first place or planning your next move—I’m here to share what I’ve learned, so you can make every decision count.

Labour Day in Canada marks a well-earned break celebrating workers and the unofficial end of summer, when everyone suddenly remembers all the things they meant to do in August.
It’s the last big excuse for barbecues, lake trips, and squeezing in one more summer adventure before routines and school schedules take over again.
Stores and sidewalks feel a little calmer, while patios and parks get their final big rush of summer energy and “just one more weekend” vibes.
Happy Labour Day! Wishing you a relaxed, fun-filled long weekend with good food, no alarms, and maximum enjoyment before fall shows up uninvited.

In Canada, previous ownership does not automatically decide first-time buyer status. Eligibility can hinge on ownership, occupancy, title interest, or a recent separation.
Many federal programs look at whether you lived in a home you owned during the current year and previous four calendar years.
Insured mortgage rules ask a different question: buyers may qualify if they never purchased, have not occupied an owned home recently, or separated.
Provincial rules can be stricter. In Ontario, a lifetime ownership test generally blocks the land transfer tax refund, even when federal definitions reopen eligibility.
Before assuming you qualify or miss out, ask which first-time buyer definition applies. The right answer can affect valuable Canadian homebuying benefits.