As I looked at our sales and listing volumes for the first month of the year (see stats) I couldn’t help but feel we are in for a big change in the real estate market this year in Calgary. But the question remains if we will see this turn around in the second quarter or in the fourth?  I see signs everywhere that things are finally going to change.

• Let’s look at the rental vacancy rates for starters: Calgary now enjoys residential vacancy rates less than 2%. This will put upward pressure on rents which will bring the cost of renting closer to the cost of owning a comparable property.  As these two align, entry level buyers will begin to move over into home ownership.
• Secondly job creation in the oil sands is staggering. Some estimates are calling for upwards of 60,000 new fulltime jobs created over the 5 years! These jobs will be partially filled by Calgarians moving to the north thereby creating an opportunity here for someone new to come to Calgary … initiating an incredible spin and trick down effect in our own backyard.

From local manufacturing, management and ongoing engineering we will see our city become very busy so when we look at our opening numbers this year, let’s call it the Calm before the storm – it’s about to get busy.  Call me anytime!