- After a strong start to 2020, conditions have dramatically changed due to COVID-19
- Market has slowed down with very few people looking at or buying homes right now. We are expecting that when pandemic is behind us then pent-up demand will lead to an significant increase in number of showing requests
- Many homes have been removed from MLS as sellers are not comfortable having people walk through their homes right now. We are expecting that when pandemic is behind us there will be a surge of new listings hit the market.
- Prices in Calgary and Okotoks were already forecasted to ease by 0.5-1% this year due to oversupply in our market. Price declines will likely be higher than originally expected due to the combined impact of the pandemic and energy sector crisis.