While the GTA remains a unique beast, the latest data from the Calgary Real Estate Board offers a sobering look at how shifting migration patterns can impact regional housing. In June, Calgary saw home sales dip 3.8% year-over-year, with the residential benchmark price softening by 2.1% to $572,500. Chief economist Ann-Marie Lurie attributes this cooling to a notable slowdown in migration, which has dampened demand across both ownership and rental segments. Notably, apartment-style properties led the decline with a 9% price drop. For Toronto investors and observers, this serves as a reminder of the sensitivity of the market to demographic shifts. While our supply constraints differ, the cooling in Western markets highlights a broader trend of easing demand. For a deeper breakdown of the national landscape, read the full report at BNN Bloomberg.
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