“We’re hoping by the end of 2023, it’s going to change and it’s going to change probably pretty radically,” said Christopher Audette, realtor and founder of The Group at RE/MAX First.
The central bank has another announcement scheduled for Jan. 25. While it suggested it may be ready to press pause on interest rate hikes, further increases have yet to be ruled out entirely.“We kind of feel like we’re stuck between a rock and a hard place,” she said. While it still won’t be what it was in early 2022, Audette predicts 2023 will still very much be a seller’s market.
Audette expects inventory levels to remain low this year as the demand for housing in Calgary and Alberta continues to rise.“We are a little bit of an island in the storm. We’ve got a lot of people moving here. We’ve got a big tech sector, oil and gas. We’re just a desirable city to move to right now and a lot of people in the rest of the country are seeing that.”