Calgary condo prices staying soft
Calgary condo prices remain soft with recent sales closing below asking, illustrating continued inventory and affordability pressure in parts of Alberta reported. The market is offering price discovery opportunities but also elevated risk for new condo-backed originations.
CREB recorded 1,526 residential sales in Calgary in February 2026, an 11.2% year‑over‑year decline, while total inventory climbed to about 4,822 units and the board specifically flagged apartment‑style properties as facing excess supply. creb.com The Bank of Canada’s policy interest rate stood at 2.25% heading into the March 18, 2026 decision, with the central bank publishing its scheduled rate announcement and press‑conference materials for that date. bankofcanada.ca Retail mortgage pricing shows 5‑year fixed specials clustering in the mid‑3% to low‑4% band (comparison sites reported a lowest‑available 5‑year fixed near 3.64% and insured 5‑year offers around 3.84%), while top variable offers were roughly in the low‑3% range—conditions that compress borrower payment stress but leave fixed‑rate valuation tied to 5‑year GoC yields. wowa.ca Canada’s prudential regulator raised concerns about “blanket appraisals” on condo loans in recent supervisory meetings, according to Reuters, and CBRE’s 2026 lenders’ survey found lenders quoting wider spreads and more cautious underwriting—both signals of elevated credit risk for new condo‑backed originations and growing likelihood of lender interventions in distressed projects. money.usnews.com
