outlook.md

# Calgary Housing Market Analysis (2019-2024)

## Key Findings

### Average Home Prices
- **Trend:** Steady increase from 2019 to early 2022, dip in mid-2022, stabilization by early 2023.
- **Current Status (May 2024):** Average home price is $699,117【9†source】.

### Sales Activity
- **Trend:** 
  - Downturn in 2020 due to pandemic.
  - Sharp recovery in 2021.
  - Dip again in 2022 with rising interest rates.
  - Gradual increase since early 2023【8†source】【10†source】.

### New Listings
- **Trend:** Increasing over the past five years, significant rise in early 2024.
- **Impact:** More options for buyers, indicating a balanced market【10†source】.

### Months of Inventory
- **Trend:** Reached 4.4 months by mid-2024, highest since fall 2019.
- **Implication:** Indicates a slightly buyer-favorable market【9†source】.

### Economic Factors
- **Impact of Interest Rates:** 
  - Rate cuts in June 2024 boosted buyer activity.
  - Calgary’s diverse economy (energy, tech, finance) contributes to market resilience【11†source】.

## Insights

- **Buyer’s Market:** Increased inventory and balanced sales-to-listing ratios suggest favorable conditions for buyers.
- **Investment Opportunities:** Stable prices and expected interest rate drops enhance real estate investment returns.
- **Market Stability:** Despite fluctuations, Calgary shows long-term investment potential.
- **Interest Rates:** Future market activity will hinge on Bank of Canada's rate decisions.

For detailed statistics, visit CREA’s [housing market stats](https://www.crea.ca/housing-market-stats/canadian-housing-market-stats/)【9†source】【10†source】【11†source】.