Calgary Set to Lead Canadian Real Estate Market in 2026

Great news for Calgary’s real estate market! A recent report from PwC Canada, completed in partnership with the Urban Land Institute, has identified our city as Canada’s top real estate market heading into 2026. As someone deeply invested in Calgary’s housing landscape, I’m excited to share what this means for buyers, sellers, and investors in our community.

Why Calgary Stands Out

While much of Canada’s real estate sector faces a transitionary period, Calgary is positioned as “a standout” according to the report. The reasons are clear and compelling:

• Strong economic fundamentals that continue to attract businesses and workers
• Record-breaking housing construction over the past three years
• Robust population growth that shows no signs of slowing
• Policy agility that allows our market to respond quickly to changing conditions

Richard Joy, executive director of ULI Toronto, noted in the report: “Calgary remains a standout, with policy agility and supply delivery driving momentum.” This recognition from industry leaders in other markets speaks volumes about where Calgary is headed.

The Broader Canadian Context

To understand Calgary’s advantage, it’s important to look at what’s happening across the country. In Toronto and Vancouver, there’s a significant shift occurring. Developers are pivoting from condos to rental properties. As Joy explains, “the condo reset is steering capital to rental, including asset classes like student housing.”

This transition reflects a broader recalibration in Canada’s real estate landscape. Fred Cassano, partner and national real estate leader at PwC Canada, describes it as “a pivotal moment” where policy momentum is building and collaboration across industries is creating new opportunities.

What This Means for Calgary

For local buyers and investors, Calgary’s position as the top market presents several opportunities:

For Homebuyers: Strong construction activity means more inventory and choice, even as demand remains healthy. Our market offers better affordability compared to Toronto and Vancouver while maintaining strong growth prospects.

For Investors: The combination of economic strength, population growth, and supply delivery creates conditions for sustainable appreciation rather than speculative bubbles.

For Developers: Calgary’s “policy agility”, our city’s ability to adapt regulations and processes, makes it easier to bring projects to market compared to more constrained markets.

Emerging Trends to Watch

The PwC report highlights several trends that will shape real estate in 2026:

Modular and Prefabricated Housing

There’s growing momentum behind factory-built homes as a solution to housing supply challenges. Both federal and provincial governments are backing this approach with significant financing. While the report notes that modular housing is “no silver bullet,” it represents an important tool in addressing housing needs.

Alternative Financing

With traditional bank lending more constrained, private capital sources like real estate investment trusts and private debt are filling the gap. This shift is unlocking opportunities in specialized sectors like student housing and medical offices.

Medical Offices and Storage

As our population ages and cities densify, demand for medical offices and storage facilities is expected to grow, sectors that savvy investors should keep on their radar.

The Bottom Line

Calgary’s real estate market isn’t just surviving the transition affecting much of Canadian real estate, we’re thriving. Our combination of economic strength, smart policy, and robust construction activity positions us for sustained success in 2026 and beyond.

Whether you’re looking to buy your first home, upgrade to something larger, or explore investment opportunities, Calgary offers a rare combination: a dynamic, growing market with better affordability than most major Canadian cities.

As Cassano notes, addressing construction challenges and “embracing new approaches and partnerships” gives us “a tremendous opportunity to build the spaces our communities need and unlock growth throughout the market.” Here in Calgary, we’re doing exactly that.

If you’re considering making a move in Calgary’s real estate market, now is an excellent time to explore your options. The fundamentals are strong, and the momentum is building.

Source: Calgary Herald / Postmedia – “Calgary to be Canada’s top real estate market amid transitionary 2026, report says” by Ben Cousins, November 13, 2025