Calgary Housing Market Shifts Toward Balance in 2026

Housing conditions in Calgary are expected to continue shifting toward more balanced territory in 2026 as slower population growth is met with increasing supply following several years of elevated construction activity.

Resale market activity has softened more than initially expected, particularly in higher-density segments. This is being driven by greater choice across resale, new-home, and rental markets, which is limiting seasonal price strength and contributing to a higher overall level of supply relative to demand.

Apartment-style housing has seen the most significant change in conditions. Record levels of new construction have added rental supply while reduced international migration has weakened demand, leading to higher vacancy rates, softer rents, and increased landlord incentives in some cases.

These factors have also reduced investor demand and slowed resale activity in the apartment and row-style segments. With more options available to buyers across both new and resale markets, prices in the apartment condominium sector are under downward pressure, with declines exceeding earlier expectations and limited seasonal recovery.

In contrast, detached housing remains comparatively stable. Although sales have eased, inventory remains relatively constrained and conditions are closer to balanced, with some areas still favouring sellers. Price adjustments have been more localized, primarily where new-home competition overlaps with resale supply in similar price ranges.